BofA Securities lowered its price target on Burford Capital (NYSE: BUR) to $5.61 from $12.10, while maintaining a Buy rating, reflecting adjustments to its valuation framework. The firm said it based its valuation on a three-year rolling cash return on tangible equity (Cash RoTE), which it increased to 20%, applying a Gordon Growth Model. The reference year for valuation was shifted to fiscal 2028 estimates from fiscal 2027. BofA maintained a 2% long-term growth rate but raised its cost of equity assumption ...