Morgan Stanley upgraded SoFi Technologies to Equal Weight from Underweight with an unchanged price target of $7. The analyst views the company’s downside risks as more in the price with the shares down 27% over the past three months. In addition, Q3 developments “incrementally improved” the firm’s view of theSoFi’s near-term outlook. It increased net interest margin estimates for 2024 and says the $2B flow agreement eases capital risks.
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