Priority Technology price target lowered to $10 from $11 at Alliance Global

Alliance Global lowered the firm’s price target on Priority Technology (PRTH) to $10 from $11 and keeps a Buy rating on the shares following Q4 results. This valuation reflects the slowing growth but more importantly the low cash conversion, in Alliance Global’s view, that is keeping the valuation depressed, the firm told investors in a research note. Alliance Global argued that debt reduction is still the key to driving shareholder value.