Here’s Why Morgan Stanley Raised SOFI Stock Price Target
On Monday, Morgan Stanley increased the price target for SoFi Technologies (SOFI) stock to $18 from $13, citing an improvement in its view of the North America consumer finance group to “In-Line” from “Cautious.” SOFI stock has risen more than 7% over the past month and more than 78% year-to-date, thanks to the fintech and digital bank’s impressive financials, a rapidly growing member base, and strong execution.
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Morgan Stanley’s Take on SOFI and the Consumer Finance Group
Morgan Stanley analyst Jeffrey Adelson noted that
