SoFi Technologies price target raised to $8 from $7 at UBS

UBS raised the firm’s price target on SoFi Technologies to $8 from $7 and keeps a Neutral rating on the shares. SoFi guided adjusted EBITDA and EPS above Street forecasts for fiscal 2024, and its outlook for 2026 is well ahead of expectations, the analyst tells investors in a research note. UBS says SoFi is relatively well positioned among U.S. Neobanks and that the steps toward GAAP profitability are positives, although the firm sees a balanced risk-reward.