DigitalBridge price target lowered to $32 from $36 at B. Riley

B. Riley analyst Daniel Day lowered the firm’s price target on DigitalBridge to $32 from $36 and keeps a Buy rating on the shares post the Q4 results. While the quarterly results continue to be "noisy" amid the company’s transition toward a simpler pure-play alternative asset manager focused on digital infrastructure, DigitalBridge continues put up solid quarterly fee growth while the fundraising outlook remains robust, the analyst tells investors in a research note.