Raymond James Financial Cuts Propel (TSE:PRL) Price Target to C$31.00

Key Points

• Raymond James cut its price target on Propel from C$32.00 to C$31.00 while maintaining an "outperform" rating.
• Multiple brokers also lowered targets—several to the C$27–C$32 range and Scotiabank downgraded to "sector perform"—leaving an average analyst consensus of Moderate Buy (four Buys, one Hold).
• Shares traded down to C$24.03 with a market cap of about C$945.9M, a P/E of 17.04 and a 52‑week range of C$17.24–C$39.15.

Propel (TSE:PRL - Get Free Report) had its price objective decreased by stock analysts at Raymond James Financial from C$32.00 to C$31.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Propel from C$37.00 to C$27.00 in a research report on Wednesday, March 4th. ATB Cormark Capital Markets decreased their price objective on shares of Propel from C$38.00 to C$27.00 and set an "outperform" rating for the company in a research report on Wednesday, March 4th. Scotiabank cut shares of Propel from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from C$35.00 to C$27.00 in a research report on Tuesday, April 28th. Stifel Nicolaus decreased their price objective on shares of Propel from C$38.00 to C$32.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Finally, Ventum Financial reduced their price target on shares of Propel from C$4.00 to C$3.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Propel has an average rating of "Moderate Buy".

Propel Stock Performance

Shares of TSE:PRL traded down $0.71 during trading on Wednesday, hitting $24.03. The company's stock had a trading volume of 200,801 shares, compared to its average volume of 287,664. The business has a 50 day moving average price of $20.09 and a two-hundred day moving average price of $22.73. The company has a market capitalization of $945.89 million, a PE ratio of 17.04 and a beta of 0.56. Propel has a fifty-two week low of $17.24 and a fifty-two week high of $39.15.

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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