Blue Owl Capital price target lowered to $22 from $24 at Wells Fargo

Wells Fargo lowered the firm’s price target on Blue Owl Capital (OWL) to $22 from $24 and keeps an Equal Weight rating on the shares. The firm sees greatest impact for episodic fee streams from macro and cap markets uncertainty, but long-term outlook remains upbeat, and valuations are more attractive after year-to-date underperformance.