SoFi Technologies price target raised to $9 from $6 at Mizuho

Mizuho analyst Dan Dolev raised the firm’s price target on SoFi Technologies to $9 from $6 and keeps a Buy rating on the shares. The analyst laid out a "blue-sky scenario" by which it believes SoFi can meaningfully exceed the upper end of its $1.925B – $2.0B 2023 revenue guide, helped by a widening spread between the rate at which the company lends and the rate it uses for borrowing. This is largely helped by the rising use of low-cost customer deposits, the analyst tells investors in a research note. The firm believes the "opacity" surrounding SoFi’s lending business is a major deterrent for tech investors who shy away from lenders and don’t understand banks.