UPDATE: Raymond James Upgrades DigitalBridge Group Inc. (DBRG) to Strong Buy

Raymond James analyst Ric Prentiss upgraded DigitalBridge Group Inc. (NYSE: DBRG) from Outperform to Strong Buy with a price target of $9.00 (from $8.50).

The analyst comments "DBRG has come a long way in the past few years, going from 0% Digital Assets Under Management (AUM) at the beginning of 2019 to now 98% Digital AUM pro forma for pending transactions. The end of the digital transformation is in sight, and the largest questions surrounding the business involve the flow, pace, price and size of balance sheet capital deployments, as well as the magnitude and timing at which it can raise third-party capital in the Digital IM business. With DBRG as young as it is (at least its current iteration), continued execution in the near term will be essential in showing investors the long-run value creation potential."

For an analyst ratings summary and ratings history on DigitalBridge Group Inc. click here. For more ratings news on DigitalBridge Group Inc. click here.

Shares of DigitalBridge Group Inc. closed at $6.10 yesterday.

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