Keefe Bruyette analyst Timothy Switzer raised the firm’s price target on SoFi Technologies (SOFI) to $18 from $14 and keeps an Underperform rating on the shares. The firm upped estimates ahead of the company’s Q3 report on October 28 to reflect higher net interest income and loan platform business momentum. While “several positive potential catalysts” could bring support for the shares in the near term, SoFi’s risk/reward “seems skewed negatively over the long term given the premium valuation,” the analyst tells investors in a research note.
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