GCM Grosvenor Inc. (GCMG) PT Raised to $14 at TD Cowen

TD Cowen analyst Bill Katz raised the price target on GCM Grosvenor Inc. (NASDAQ: GCMG) to $14.00 (from $12.00) while maintaining a Buy rating.

The analyst commented, "Five key takes post 2Q (see 8/8): 1) favorable mix shift(s) continues into higher multiple Private Markets; 2) 2H24 asset gathering poised to accelerate, w/ high visibility; 3) mgmt affirmed double FRE (23A-28E), with # upside opportunities; 4) elevated ARS 2Q attrition narrow in scope, with improving lead indicators; & 5) 3Q line item guidance, mostly as expected. Affirm Buy - target + $2 to $14."

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