Priority Technology price target raised to $13 from $8 at Lake Street

Lake Street raised the firm’s price target on Priority Technology (PRTH) to $13 from $8 and keeps a Buy rating on the shares after Priority announced the full redemption of its remaining preferred shares and accrued dividends for $116M, financed through an increase in its term debt due May 2031. The simplification of Priority’s capital structure removes an overhang and should prove to be a catalyst for shares, the analyst tells investors.