Abacus Global jumps after lifting annual profit outlook
** Alternative asset management firm Abacus Global's ABL.O shares jump 9.5% to $6.03
** ABL late Thursday lifted FY 2025 annual adjusted profit outlook after strong Q2 results
** "Strong performance was driven by robust demand for policyholder liquidity, as well as increased inflows for our new asset management offerings," CEO Jay Jackson said
** Northland Capital analyst Mike Grondahl says it was a strong quarter for ABL, and it sounds like momentum has continued into a seasonally stronger 2H25
** "Diversification of its revenue streams over time will continue to make the company unique in the alternative asset management space," Grondahl says
** All five brokerages covering stock rate it at "buy" or higher; median PT $14 - data compiled by LSEG
** As of last close, ABL stock down 29.8% YTD
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