Blue Owl Capital price target raised to $20 from $19 at Wells Fargo

Wells Fargo raised the firm’s price target on Blue Owl Capital (OWL) to $20 from $19 and keeps an Equal Weight rating on the shares. Overall, a soft Q1 from the company with a management fee miss that pushed the firm’s out-year EPS estimates down 3-4%-in line with stock’s underperformance. Wells notes that the outlook was not dramatically different for Blue Owl, but with stock near fair value, it recommends a wait-and-see approach.