Wedbush lowered the firm’s price target on Burford Capital to $18 from $20 and keeps an Outperform rating on the shares. Burford reported a solid quarter, with capital provision income that was well above expectations and driven by broad based growth in the overall portfolio as well as a significant contribution from YPF-related assets, the analyst tells investors in a research note. Wedbush is encouraged by the increased level of realizations, deployments, and trials/ hearings, which should support earnings growth.
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