B. Riley analyst Hal Goetsch raised the firm’s price target on Priority Technology (PRTH) to $16 from $13 and keeps a Buy rating on the shares. Priority Technology has redeemed all of its preferred stock, using proceeds from its existing term loan facility that has a much lower cost of funds, the analyst tells investors in a research note. The firm believes this is a key catalyst to allow further equity re-rating to continue.
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Read More on PRTH:
- Priority Technology price target raised to $13 from $8 at Lake Street
- Priority Technology Holdings Reports Strong Q3 Growth
- Priority Technology price target raised to $12 from $8 at Alliance Global
- Priority Technology reports Q3 EPS 7c, consensus 1c
- Priority Technology sees FY24 revenue $875M- $883M, consensus $879.35M