TPG rises after TD Cowen upgrades to 'buy'

TPG

06/08/2026 11:46

** Alternative asset manager TPG's TPG.O shares rise 2.2% to $48.98 premarket
** TD Cowen upgrades TPG to "buy" from "hold" following Q2 results; raises PT to $64 from $43, representing 33.6% upside to last close
** Brokerage cites stronger outlook for capital raising and potential for outsized monetization of assets
** Adds there is reduced angst around AI disruption fears to software firms, which has weighed on the shares YTD
** Software represented 11% of the firm's total AUM, with the majority in private equity and minimal exposure in credit, TPG said earlier this year
** "One of the sector's broad themes is the building queue for monetizations and while 3Q tends to be typically/seasonally soft, we are encouraged by TPG management commentary around exits" - TD Cowen
** 13 of 16 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $62 - data compiled by LSEG
** As of last close, TPG stock down 25% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))