In a report released today, Matthew Lee from Canaccord Genuity maintained a Buy rating on Propel Holdings Inc, with a price target of C$39.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Matthew Lee has given his Buy rating due to a combination of factors that highlight Propel Holdings Inc’s strong financial performance and growth potential. The company reported a robust revenue growth of 34% year-over-year, which aligns with expectations and demonstrates its ability to capitalize on the demand for credit among underserved consumers. Propel’s credit performance was slightly better than anticipated, with a provision for credit losses ratio that was modestly below estimates, indicating effective risk management in a challenging macroeconomic environment.
Additionally, Propel’s consistent dividend growth, marked by an 8% increase for the eighth consecutive quarter, reflects its commitment to returning value to shareholders. The company’s solid balance sheet, with significant undrawn credit capacity, positions it well to pursue further growth opportunities. Lee’s target price of C$39.00 is based on a forward price-to-earnings ratio that considers Propel’s growth trajectory and market position, reinforcing the Buy recommendation.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$40.00 price target.