Citi Resumes Blue Owl Capital (OWL) at Buy

Citi analyst Chris Allen resumes coverage on Blue Owl Capital (NYSE: OWL) with a Buy rating and a price target of $21.00.

The analyst comments "We resume coverage after a period of Rating Suspended with a Buy rating and target price of $21. After recent 1Q24 earnings, we remain constructive on the outlook from here given fundraising dynamics, particularly in the PWC channel. We continue to like OWL here given the embedded earnings power in the platform, its business mix, permanent capital model, positioning in the wealth channel where it is seeing good momentum, and growth opportunities in the insurance channel after recent acquisition announcements. Putting it all together, we are confident in the company’s potential to produce 20%+ top/bottom line growth over the next few years."

For an analyst ratings summary and ratings history on Blue Owl Capital click here. For more ratings news on Blue Owl Capital click here.

Shares of Blue Owl Capital closed at $18.55 yesterday.

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