SoFi Technologies price target raised to $16 from $11 at Truist

Truist analyst Andrew Jeffrey raised the firm’s price target on SoFi Technologies to $16 from $11 and keeps a Buy rating on the shares. The firm anticipates that SoFi will remain a battleground stock, but contend robust, high quality Q2 results and increasingly credible mainstream banking ambitions firmly place the burden of proof on detractors. Truist restated its argument that legacly banks are inefficient, suffer duration mismatches, and are lagging in tech and poor demographics.