NEW YORK (TheStreet) -- Carlyle Group (CG) saw several analysts initiate coverage on Tuesday and--wouldn't you know it--analysts at JPMorgan Chase, Citigroup and Credit Suisse, which led the private equity giant's May 2 initial public offering, are all recommending the stock.
JPMorgan argues Carlyle "is a leader in asset gathering and fund performance, and has the diversification to enable somewhat more stable earnings than peers, in our view."
Credit Suisse gave a similarly gushing review, praising Carlyle's "deep roots in corporate private equity," its "top-tier investment returns" its "broad global franchise" and its "premier fund raising capabilities."
Citigroup analysts were somewhat more circumspect, noting the buyout giant trades at five times its residual performance fees this year compared to most peers, which trade at one time fees. However, Citigroup likes the 7.5% yield.Goldman Sachs, Morgan Stanley and Deutsche Bank, all of which were relegated to supporting roles (i.e. lower fees and prestige) on Carlyle's IPO, came out with neutral ratings. "We see better upside elsewhere in the space," sniffed Goldman's analysts. -- Written by Dan Freed in New York. Follow this writer on Twitter.
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