Raymond James double upgraded Blue Owl Capital (OWL) to Strong Buy from Market Perform with a $20 price target The stock’s current valuation reflects the elevated risk of one or more of its non-traded business development companies hitting 5% redemption caps in Q4, the analyst tells investors in a research note. However, the firm thinks redemption risk is manageable as Blue Owl “appears likely to honor all requests, which would remove an overhang on the stock.” Raymond James says the company’s fundraising has remained strong amid the volatility.
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