B. Riley analyst Matt Howlett raised the firm’s price target on Abacus Life (ABL) to $17 from $16 and keeps a Buy rating on the shares. The price target increase reflects the pricing of Abacus Life’s $100M common stock offering, the analyst tells investors in a research note. The firm believes the motivation to issue equity was driven by extremely favorable conditions in the secondary market, which CEO Jay Jackson says are some of the most attractive he has seen in his career.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABL:
- Abacus Life Announces Public Offering for Expansion
- Abacus Life 12.5M share Spot Secondary priced at $8.00
- Abacus Life announces offering of 12.5M shares of common stock
- Abacus Life Faces Integration Challenges and Risks with FCF Acquisition
- Abacus Life price target raised to $13 from $12 at Piper Sandler