Blue Owl Capital downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette analyst Paul Johnson downgraded Blue Owl Capital to Market Perform from Outperform with an unchanged price target of $16. Shares have performed “very strongly,” rising 45% over the last year and 15% year-to-date, notes the analyst, who is reducing 2024 estimates and believes upside is limited from current levels.