Wells Fargo initiated coverage of Blue Owl Capital with an Equal Weight rating and $18.50 price target. While Blue Owl “checks many boxes on alt manager investors’ wish list,” three M&A deals in three months brings uncertainty, argues the analyst, who also contends that “Street estimates look high.” The firm sees “the right near-term price range as $13-$23” and notes the stock is currently near the midpoint of that range.
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