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Fly News Breaks for January 3, 2020
ORCC
Jan 3, 2020 | 08:40 EDT
RBC Capital analyst Kenneth Lee downgraded Owl Rock to Sector Perform from Outperform with a $17 price target. The analyst notes that he still sees the firm as "one of the few" business development companies offering scale advantages and access to "meaningful" deal flow, but after a "strong" run-up of 16% since its IPO, he contends that Owl Rock valuation multiple of 1.2-times price to net asset value is "relatively full".
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