DigitalBridge price target lowered to $20 from $24 at B. Riley

B. Riley lowered the firm’s price target on DigitalBridge to $20 from $24 and keeps a Buy rating on the shares following a transfer of coverage. The firm is “broadly constructive” on asset managers but brought earnings in for several names and downgraded Victory Capital (VCTR) from Buy to Neutral. For mortgage real estate investment trusts, elevated Treasury and mortgage rates, as well as pockets of credit uncertainty for both commercial real estate and residential, have earnings moving lower across the group, and a downgrade on Ready Capital (RC) from Buy to Neutral. In select specialty finance, Riley remains bullish. Its top long ideas for 2025 are Abacus Life (ABL), Atlanticus Holdings (ATLC), and DigitalBridge (DBRG).