Blue Owl Capital price target raised to $32 from $30 at JMP Securities

JMP Securities analyst Brian McKenna raised the firm’s price target on Blue Owl Capital (OWL) to $32 from $30 and keeps an Outperform rating on the shares. Blue Owl’s Q4 distributable earnings per share were one penny below consensus estimates, and firmwide assets under management increased 7% sequentially to $251B, the analyst tells investors in a research note. The firm believes the investor day will be an important update from the company, and expects a deep dive into its recently acquired businesses and platforms at the event. JMP thinks Blue Owl is still in the early innings of a significant revaluation story and sees compelling upside in shares over the next several years.