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  5. PRL: Hello 5i Team, Propel has had a really good month; do you know what is making it move? [Propel Holdings Inc.]
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Investment Q&A

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Q: Hello 5i Team,
Propel has had a really good month; do you know what is making it move?
Thank you,
Brent
Asked by Brent on December 07, 2023
5i Research Answer:

There has been no news in close to a month, following last month's target price upgrade by Raymond James ($15 to $18). Q3 was a record for the company, and the dividend was raised 5%. It has high sensitivity to interest rates, which look to have peaked. Technically, the past month has finally seen it bust out of its IPO price range ($9.75, 2021) which likely set off more buying.