Priority Technology upgraded to Buy from Neutral at B. Riley

B. Riley upgraded Priority Technology to Buy from Neutral with a price target of $10, up from $5. The analyst sees “some headwinds and doubts turning to tailwinds for success” in 2024. Also, the acquisition environment “is alive and well” in payments, which is providing “compelling marks” for a Priority re-rating, the analyst tells investors in a research note. The firm now sees easier growth compares to the company’s small business payments segment coming in midway through 2024. It calls Priority Technology a “very mispriced stock” in the current M&A environment.