B. Riley analyst Timothy D’Agostino lowered the firm’s price target on Burford Capital (BUR) to $7.50 from $18 and keeps a Buy rating on the shares. Following Friday’s court ruling, the firm values Burford’s YPF assets now at zero dollars. While there is potential for the case to have a rehearing or be appealed, the probability of this as minimal, the analyst tells investors in a research note. Riley says its updated valuation is based on the sum of the net present value of the company’s capital provision gains, future asset management income, and capitalized expenses.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BUR:
