Burford Capital price target lowered to $7.50 from $18 at B. Riley

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.