Morgan Stanley analyst Jeffrey Adelson raised the firm’s price target on SoFi Technologies to $6 from $5 and keeps an Equal Weight rating on the shares following the company’s Q4 report. While GAAP profitability is seen coming earlier than expected, 2023 profitability is "very back-end loaded" and requires the student loan moratorium to end by June, the analyst tells investors. Despite better operating leverage, Morgan Stanley still sees risks to the outlook if student loan moratorium does not go away as expected, while stating that loan growth should slow in 2023.
Published first on TheFly
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