BUZZ-Blue Owl Capital dips as Deutsche Bank downgrades stock

Reuters02-24 20:44
BUZZ-<a href="https://laohu8.com/S/OBDE">Blue Owl</a> Capital dips as Deutsche Bank downgrades stock

** Alternative asset manager Blue Owl Capital's OWL.N shares fall 2.2% to $10.21 premarket

** Deutsche Bank downgrades OWL to "hold" from "buy"; cuts PT to $10 from $15, a 4% discount to stock's last close

** OWL stock has sunk 15% over the last week as its latest strategy to return capital from a small debt fund spooked some investors

** Says high investor anxiety will drive modest increase in redemption requests for many retail credit products and reduce new sales

** Brokerage also reduces estimates for OWL given the contribution of retail schemes to its total fee-paying assets under management

** 12 of 16 brokerages rate the stock "buy" or higher and four "hold"; median PT $15 - data compiled by LSEG

** As of last close, OWL stock down 30% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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