Rimini Street price target lowered to $2.25 from $3 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger lowered the firm’s price target on Rimini Street (RMNI) to $2.25 from $3 and keeps a Neutral rating on the shares. The company posted “mixed” Q3 results, says the analyst, who attributes the firm’s lowered target to the more than $58M less cash plus other cash consequences for exiting the PeopleSoft business.