Blue Owl Technology Finance initiated with a Buy at Truist

Truist initiated coverage of Blue Owl Technology Finance (OTF) with a Buy rating and $17 price target Blue Owl’s strategy differs from other business development companies as it focuses investment in later-stage private middle market technology companies, particularly software companies, notes the analyst, who believes Blue Owl will be able to expand its profitability over time as it increases leverage from “current low levels,” optimizes its asset yields, and adds scale efficiencies.