The Globe and Mail reports in its Tuesday, Sept. 1, edition that Stifel analyst Suthan Sukumar is keeping his "buy" call and $38 share target for Propel Holdings intact. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $36.75. Mr. Sukumar says in a note: "Propel is employing a deliberate 'slow walk' approach to credit when entering new U.S. states, utilizing tighter underwriting standards to account for regional variations in spending power. As a result, credit performance in these new markets has been stronger than in more mature jurisdictions. This expansion is a primary growth engine, with states entered this year already accounting for well north of 20 per cent of monthly origination volumes. To support momentum, the company is focusing on refining existing and adding new channels this year (10 new marketing/distribution channels added this year alone, bringing total to about 20) to enhance its borrower acquisition pipeline. With the Propel Bank licence in hand, the company is well positioned from a regulatory standpoint to expand from its current 32 states toward a full national footprint."