Blue Owl Capital price target lowered to $17 from $18 at Piper Sandler

Piper Sandler analyst Sumeet Mody lowered the firm’s price target on Blue Owl Capital to $17 from $18 and keeps an Overweight rating on the shares. The analyst adjusted asset manager models ahead of the Q1 results to account for flow and market activity as well as realizations and fund closings. Realizations and deployment activity across the alternatives industry remained pressured in the quarter, and the trend should continue through the first half of the year given continued volatility, contends Piper.