Piper Sandler Reiterates Overweight Rating on Abacus Life Inc. (ABL)

Piper Sandler analyst Crispin Love reiterated an Overweight rating and $12.00 price target on Abacus Life Inc. (NASDAQ: ABL).

The analyst commented, "Abacus preannounced results on July 18 following the announcement of the Carlisle acquisition (see note). Results matched the preannouncement and were well above our prior estimates, and we were pleased with some of the additional trends. Deployment was strong with $100M+ deployed in the quarter versus our $61M estimate which showed the ability deploy capital quickly post offering. Management telegraphed no material changes to the outlook and prior analyst estimates for adjusted EBITDA (~$55M in 2024), but we view these comments to be conservative given the strength in 2Q24. We are increasing our 2024, 2025, and 2026 core EPS estimates to $0.54, $0.71, and $0.88 from $0.50, $0.69 and $0.85, respectively. We are reiterating our Overweight rating and our PT remains $12."

For an analyst ratings summary and ratings history on Abacus Life Inc. click here. For more ratings news on Abacus Life Inc. click here.

Shares of Abacus Life Inc. closed at $10.36 yesterday.

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