B. Riley analyst Timothy D’Agostino downgraded the company’s price. target price at Burford Capital (BURR) to $7.50 from $18 and maintains a Buy rating on the stock. Following Friday’s court ruling, the firm now values Burford’s YPF assets at zero dollars. While there is a possibility that the case will be reheard or appealed, the likelihood of this happening is 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 earnings, future asset management revenues and capitalized expenses.
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