Keefe Bruyette raised the firm’s price target on SoFi Technologies (SOFI) to $20 from $18 and keeps an Underperform rating on the shares. SoFi shares rose 5.5% after the company beat revenue and EBITDA expectations and raised guidance, with strength driven by loan originations, the analyst tells investors in a research note. Despite the improved performance, the rating stays at Underperform due to an unfavorable long-term risk/reward outlook, Keefe says.
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