Blue Owl analysis shows no imminent credit risk, Raymond James says

Blue Owl Capital

13/04/2026 15:54

** Raymond James says an analysis of software loans across alternative asset manager Blue Owl's OWL.N BDCs showed there was no imminent credit risk

** Shares flat at $8.22

** Raymond James analyst Wilma Burdis said a qualitative analysis of 10 software loans revealed that 60% have low AI risk, many have defensible positions, and just one or two are at higher risk

** Brokerage says it re-estimated loan-to-values at ~70% of five large software loans vs originated ~30-40%

** "We think the main risk for these portfolios would be liquidity constraints caused by investor panic, as fulfilling outsized redemption requests would force OWL to sell otherwise good assets into a pressured market" - Raymond James

** Brokerage thinks impacts to OWL's AUM and fee outlook appear manageable; it has a "strong buy" rating, PT of $20; says current pressures present a "compelling buying opportunity"

** Out of 16 analysts covering the stock, 12 rate "buy" or "strong buy" and four a hold; median PT $14 - LSEG data

** OWL down ~45% YTD; stock touched an intraday record low of $7.95 earlier this month

 (Reporting by Sruthi Shankar)

 ((Sruthi.shankar@thomsonreuters.com))