BofA analyst Craig Siegenthaler lowered the firm’s price target on TPG (TPG) to $72 from $85 and keeps a Buy rating on the shares after the company reported better-than-expected Q4 earnings, driven by a realized performance fee beat. The firm continues to apply a 20-times multiple on its 2027 cash earnings estimate to arrive at its price target but notes that its cash earnings estimate decreases due to higher stock-based compensation.
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Read More on TPG:
- TPG price target lowered to $65 from $73 at TD Cowen
- Balanced Outlook on TPG: Promising Growth vs. Valuation Concerns
- TPG’s Strategic Growth and Strong Earnings Potential Justify Buy Rating
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- TPG Inc. Reports Strong 2024 Financial Performance