Propel (TSE:PRL) Price Target Raised to C$29.00 at Scotia

Key Points

• Scotia raised Propel’s price target to C$29.00 from C$27.00 while maintaining a “sector perform” rating.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating from two Strong Buy, five Buy, and two Hold recommendations. Other firms recently set targets ranging from C$33.00 to C$38.00.
• Propel shares traded at C$28.74, giving the company a market capitalization of approximately C$1.13 billion; the stock’s 52-week range is C$17.24 to C$36.98.

Propel (TSE:PRL - Get Free Report) had its price target hoisted by research analysts at Scotia from C$27.00 to C$29.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock.

PRL has been the topic of several other reports. Scotiabank cut shares of Propel from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from C$35.00 to C$27.00 in a report on Tuesday, April 28th. TD set a C$33.00 target price on shares of Propel and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Ventum upped their target price on Propel from C$30.00 to C$34.00 and gave the company a "buy" rating in a report on Friday. Raymond James Financial raised Propel from a "moderate buy" rating to a "strong-buy" rating and increased their price target for the company from C$31.00 to C$38.00 in a research report on Thursday. Finally, Stifel Nicolaus boosted their price objective on Propel from C$34.00 to C$38.00 and gave the stock a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Propel presently has a consensus rating of "Buy".

Propel Stock Performance

PRL traded up $0.02 during mid-day trading on Friday, reaching $28.74. 315,174 shares of the stock were exchanged, compared to its average volume of 247,131. Propel has a 1 year low of $17.24 and a 1 year high of $36.98. The stock has a market capitalization of $1.13 billion, a PE ratio of 21.45 and a beta of 0.79. The company has a 50 day moving average price of $24.43 and a two-hundred day moving average price of $22.58.

Propel Company Profile

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).

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