In a report released today, Bryan Bergin from TD Cowen reiterated a Buy rating on Priority Technology Holdings, with a price target of $11.00.
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Bryan Bergin has given his Buy rating due to a combination of factors that highlight Priority Technology Holdings’ strong performance and potential for growth. The company delivered impressive second-quarter results, surpassing expectations in revenue, gross profit, and EBITDA, which indicates robust execution despite a challenging economic environment. The SMB segment showed notable growth, while the B2B segment benefited from a favorable mix, and the Enterprise segment has significant growth potential.
Bergin also notes that Priority Technology Holdings has managed to maintain stable fundamentals despite broader economic uncertainties. The company’s strategic moves, such as a significant debt raise, provide financial flexibility and potential for future mergers and acquisitions. The analyst sees potential for multiple expansion if the company continues to execute well in the second half of the year, which could lead to favorable upside opportunities from the current share price. Therefore, the combination of strong operational performance and strategic financial positioning supports the Buy rating.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $13.00 price target.