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DigitalBridge price target lowered to $16 from $19 at Raymond James
The Fly

DigitalBridge price target lowered to $16 from $19 at Raymond James

Raymond James analyst Ric Prentiss lowered the firm’s price target on DigitalBridge (DBRG) to $16 from $19 and keeps a Strong Buy rating on the shares. DigitalBridge’s fee related earnings guidance cut was not surprising, but the magnitude of which was disappointing, and the firm thinks investors “are not thrilled” about the company’s discussions of potentially buying another asset manager, the firm says. M&A market activity is picking up, and flagship fundraising should take priority as the end of the fundraising period nears in mid-2025, the firm adds.

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