SoFi Technologies price target lowered to $17 from $20 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on SoFi Technologies (SOFI) to $17 from $20 and keeps an Underperform rating on the shares. The firm sees potential headwinds to the company’s Q1 earnings from changes to its fair value marks. Keefe has heard some concerns from investors regarding the deterioration in credit metrics reported by SoFi’s securitizations. While an analysis shows it is too early to definitively determine the outlook from here, the signs are “leaning negative,” the analyst tells investors in a research note. Keefe cites its updated sum-of-the-parts valuation for the target drop.