Blue Owl Capital downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Alexander Blostein downgraded Blue Owl Capital (OWL) to Neutral from Buy with a price target of $24.75, down from $25. The firm continues to see Blue Owl as one of the fastest growth managers in the space. However, the company’s pace of organic growth is slowing, which is likely to limit the stock’s multiple expansion after a “robust” 2024, the analyst tells investors in a research note. Goldman says Blue Owl Capital has largely closed its valuation discount versus peers.