Court striking down student debt relief already in SoFi valuation, says Wedbush

After the Supreme Court struck down the Biden Administration’s student debt relief program that would have granted up to $20,000 in student loan forgiveness to certain eligible federal student loan borrowers, Wedbush analyst David Chiaverini said this incremental news is already priced into SoFi‘s valuation, noting that its model had already assumed that this ruling would occur. The firm, which notes that the court ruling cements that August 30 will be the date the moratorium on student loan payments ends, maintains an Underperform rating and $3 price target on SoFi shares.