Priority Technology price target raised to $13 from $11 at B. Riley

B. Riley raised the firm’s price target on Priority Technology to $13 from $11 and keeps a Buy rating on the shares. B. Riley sees solid growth and the cost of capital at Priority Technology set to turn lower as the Fed cuts rates, the analyst tells investors in a research note. Priority’s debt and preferred stock are variable rates, and the firm sees a peak in the rate cycles as potentially leading to a re-rating opportunity for the equity.