TD Cowen initiated coverage of Blue Owl Capital with an Outperform rating and $17 price target. The company should navigate well through potential economic slowdown, with permanent-capital skewed AUM/revenue footprint remaining well insulated and strong credit quality track record, the analyst tells investors in a research note. Favorable updates on GP VI first close/sizing, favorable retail alternative asset democratization metrics, and direct lending segment deployment are some of the positive catalysts for the stock, the firm added.
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