Barclays raised the firm’s price target on SoFi Technologies (SOFI) to $18 from $12 and keeps an Equal Weight rating on the shares as part of a Q2 earnings preview for the consumer finance space. Card delinquency trends improved through May, which should help drive a continued improvement in net charge offs, the analyst tells investors in a research note. However, Barclays says most stocks in the group are trading above historical valuation averages, which sets a high bar for outperformance Q2.
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