Jefferies lowered the firm’s price target on AFC Gamma to $13 from $16 and keeps a Buy rating on the shares. The firm updated its model for AFC Gamma based on incremental data from the 10-Q and incorporating the post-quarter end spin off of SUNS. The analyst said the new price target is based on a 1.25x NAV multiple, attractive risk-adjusted portfolio yields, and more conservative leverage than peers.
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