Carlyle Group Downgraded By Citi on Private Equity Concerns

Carlyle Group LP (NASDAQ:CG) has been downgraded by Citigroup from Buy to Neutral following a shortfall posted by the buyout firm in its economic net income and mixed post quarter call. William R Katz and the team at Citi lowered Carlyle’s 12-month price target by $3 to $29. Carlyle missed EPS expectations Recently, Carlyle Group announced its second quarter earnings, posting earnings per share that were much less than expectations. The buyout firm reported earnings of 39 cents per share. The firm’s economic net profit was $156 million, compared to last year’s loss of $57 million. Carlyle posted revenue of $508 million…