03:00:14 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Propel Holdings Inc
Symbol PRL
Shares Issued 34,325,320
Close 2023-06-27 C$ 7.25
Market Cap C$ 248,858,570
Recent Sedar Documents

Globe says AI seen permeating through Propel's business

2023-06-28 07:42 ET - In the News

The Globe and Mail reports in its Wednesday, June 28, edition that Eight Capital analysts Adhir Kadve and Christian Sgro see momentum building at enterprise software companies employing generative artificial intelligence. The Globe's David Leeder writes in the Eye On Equities column that the analysts call it a "secular growth theme" that "will dominate the technology narrative for the foreseeable future." To gain exposure to the trend the Eight Capital analysts recommend Propel Holdings, which they rate "buy," with a $15 share target. Analysts on average target the shares at $13.13. The analysts say in a note: "AI permeates throughout Propel's business. The company uses AI to improve its underwriting posture and the performance of its operations. On the former, its AI underwriting model has been in use for the past decade and is able to evaluate a borrower's ability to repay their loans, using variables beyond a traditional credit score. This results in insights that can identify a creditworthy borrower who otherwise would be deemed uncreditworthy. Furthermore, AI is also used in customer acquisition, where Propel draws insights on customers they believe will better convert based on their marketing efforts."

© 2024 Canjex Publishing Ltd. All rights reserved.