Blue Owl Capital price target lowered to $22 from $23.50 at Piper Sandler

Piper Sandler analyst Crispin Love lowered the firm’s price target on Blue Owl Capital (OWL) to $22 from $23.50 and keeps an Overweight rating on the shares. The firm notes asset managers have underperformed broader financials and the market year-to-date, and performance has worsened in recent weeks. It has been a roller coaster year for asset managers with positive prospects starting the year, sentiment worsening around tariff announcements, a rebound with deal activity picking up, and most recently worries around PE and private credit. Much of the recent price performance has centered around market participants forecasting worsening in credit due to select bankruptcies and a weakening consumer. Piper finds this to be an overreaction, and expects Q3 2025 results to be “boring with a positive outlook for activity ending the year and into 2026.”