Q: Hello 5i Team,
Propel has had a really good month; do you know what is making it move?
Thank you,
Brent
Propel has had a really good month; do you know what is making it move?
Thank you,
Brent
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.