Propel (TSE:PRL) Rating Increased to Strong-Buy at Raymond James Financial

Propel (TSE:PRL) was upgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a C$38.00 target price on the stock, up from their previous target price of C$31.00.

Several other analysts have also recently commented on PRL. TD Securities raised 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 decreased their price objective for the stock from C$35.00 to C$27.00 in a research report on Tuesday, April 28th. Finally, TD set a C$33.00 price target on shares of Propel and gave the stock a “buy” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Propel has a consensus rating of “Buy”.

Propel Price Performance

Propel stock traded up $1.89 during midday trading on Thursday, reaching $28.61. The stock had a trading volume of 727,326 shares, compared to its average volume of 245,675. The firm’s fifty day simple moving average is $24.30 and its two-hundred day simple moving average is $22.55. Propel has a twelve month low of $17.24 and a twelve month high of $37.33. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 21.35 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).