Keefe Bruyette says SoFi Technologie shares were trading up 8% in mid-morning trading following the announcement of a $2B loan platform business agreement with Fortress. While details in the release were fairly limited, the announcement is a positive as it potentially demonstrates improving investor demand for SoFi’s paper, the analyst tells investors in a research note. Further, the ramping of the company’s loan platform business is an efficient way for the bank to generate fee income without consuming capital or adding credit risk, adds Keefe. The firm keeps a Market Perform rating on the shares with a $7 price target
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