Morgan Stanley raised the firm’s price target on SoFi Technologies (SOFI) to $18 from $13 and keeps an Underweight rating on the shares. The firm upgraded its view on the North America consumer finance group to In-Line from Cautious. Interest rates are moving lower and the group’s near-term credit performance keeps improving, even amid slower hiring, which lessens downside risks for the stocks, the analyst tells investors in a research note. Morgan Stanley upped price targets in the sector as it rolled forward models to 2027.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SOFI:
- Moderately bullish activity in SoFi Technologies with shares up 2.1%
- Private Markets: Dyna Robotics raises $120M from Nvidia, Amazon
- SOFI, COIN, UPST, HOOD, AFRM: Mizuho Sees New Fintech Leaders after Fed Rate Cut
- SoFi Technologies price target raised to $31 from $26 at Mizuho
- Moderately bullish activity in SoFi Technologies with shares up 4.33%