B. Riley analyst Matt Howlett raised the firm’s price target on Abacus Life to $16 from $15 and keeps a Buy rating on the shares. The company’s “strong” Q2 results and recent acquisition activity solidify its position as a “full-fledged life settlement alternative asset manager,” the analyst tells investors in a research note. In addition, the quarter was further proof that 20% margins are sustainable and possibly conservative, given that CEO Jackson is calling today one the most attractive environments he has seen in his career, the firm adds.
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