Propel (TSE:PRL) Price Target Raised to C$38.00 at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised Propel’s price target to C$38.00 from C$29.00 while maintaining an “outperform” rating.
• Analyst sentiment is broadly positive, with Propel holding an average “Buy” rating; Raymond James, TD Securities, and Stifel Nicolaus also recently issued upgrades or raised targets to C$38.00.
• Propel shares rose 0.8% to C$28.95, with the stock trading above its 50-day and 200-day moving averages and carrying a market capitalization of about C$1.14 billion.

Propel (TSE:PRL - Get Free Report) had its price objective raised by research analysts at ATB Cormark Capital Markets from C$29.00 to C$38.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock.

Several other analysts have also recently commented on the stock. TD set a C$33.00 price target on shares of Propel and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Raymond James Financial raised Propel from a "moderate buy" rating to a "strong-buy" rating and lifted their target price for the stock from C$31.00 to C$38.00 in a report on Thursday. TD Securities upgraded Propel to a "strong-buy" rating in a research report on Tuesday, July 14th. Scotiabank lowered Propel from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price target on Propel from C$34.00 to C$38.00 and gave the company a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Propel currently has an average rating of "Buy".

Propel Trading Up 0.8%

Shares of TSE:PRL traded up $0.23 during midday trading on Friday, reaching $28.95. 308,173 shares of the company were exchanged, compared to its average volume of 247,131. The business's fifty day moving average is $24.43 and its two-hundred day moving average is $22.58. Propel has a one year low of $17.24 and a one year high of $36.98. The stock has a market cap of $1.14 billion, a PE ratio of 21.60 and a beta of 0.79.

About Propel

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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