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Mogo Inc
Symbol MOGO
Shares Issued 28,796,973
Close 2020-07-16 C$ 1.79
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Globe says Canccord's Taylor keen on Mogo Finance

2020-07-16 07:15 ET - In the News

The Globe and Mail reports in its Friday, July 17, edition that Canaccord Genuity analyst Doug Taylor raised his share target on Mogo Finance Technology to $4 from $3, citing better-than-expected second quarter results. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Taylor wrote about the jump in Mogo shares in the wake of the release of the company's preliminary second quarter financial results Thursday: "Beyond the strong financial performance in the quarter, we believe that the positive commentary around the performance of the loan book is driving this relief rally in the shares. We believe that, as credit concerns around the loan portfolio lift, investors will be able to focus on the growth opportunities ahead, including the roll-out of the MogoSpend product to its one-million-plus member base." Mr. Taylor continues to rate the shares "speculative buy." He believes "there is substantially more upside as the company builds out a track record of sustained cash flow profitability."

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