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

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

A number of other research firms also recently commented on PRL. Scotiabank downgraded shares of Propel from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$35.00 to C$27.00 in a research report on Tuesday, April 28th. TD set a C$33.00 price objective on shares of Propel and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, TD Securities raised Propel to a “strong-buy” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Propel currently has an average rating of “Buy”.

Propel Price Performance

Shares of TSE PRL traded up $1.89 during midday trading on Thursday, reaching $28.61. 727,326 shares of the company traded hands, compared to its average volume of 245,675. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 21.35 and a beta of 0.79. The stock has a 50-day moving average price of $24.30 and a 200 day moving average price of $22.55. Propel has a 52 week low of $17.24 and a 52 week high of $37.33.

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).