Truist analyst Andrew Jeffrey lowered the firm’s price target on SoFi Technologies to $14 from $16 and keeps a Buy rating on the shares after its Q3 results. The analyst is citing a rising equity risk premium, though the firm remains “bullish on the durability” of the company’s above-average long-term organic rev growth and scale as it takes share from Legacy banks. Truist is also “comfortable” with SoFi’s Held for Sale accounting, noting stable credit, conservative loan marks and ample liquidity.
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