Piper Sandler raised the firm’s price target on Blue Owl Capital (OWL) to $27 from $25 and keeps an Overweight rating on the shares. Asset managers have outperformed financials and the broader market in recent months leading up to and through the start of the Federal Reserve rate cutting cycle and the presidential election, the analyst tells investors in a research note. The firm sees an increasingly accommodative environment for asset managers, given a likely pickup in deal activity, initial public offerings and a lighter regulatory environment. This has led to an increase in stock prices and multiples in the space, “but we still believe there are reasons to be optimistic,” contends Piper. It believes asset managers “have the wind at their back” into the Q4 reports.
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Read More on OWL:
- Blue Owl Capital call volume above normal and directionally bullish
- Blue Owl Capital price target raised to $27 from $25 at JMP Securities
- Blue Owl Capital price target raised to $24 from $23 at Deutsche Bank
- Blue Owl Capital price target raised to $25 from $23 at Piper Sandler
- Blue Owl Capital Reports Strong Q3 2024 Growth
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
