Stephens initiated coverage of SoFi Technologies (SOFI) with an Overweight rating and $20 price target The firm recommends specialty finance stocks with “funding advantages and superior customer-acquisition models,” saying these companies are the most insulated from economic downturns and heightened competition. The analyst likes SoFi’s “diversified” growth platform and “productivity loop.” The company’s growth prospects remain strong and its mix to fee-based revenues will drive multiple expansion, the analyst tells investors in a research note.
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