MoneyLion initiated with a Buy at Lake Street

Lake Street initiated coverage of MoneyLion with a Buy rating and $75 price target. The firm believes MoneyLion shares have been unfairly punished and the declining share price has caused the leverage generated by the company’s unique acquisition strategy has been overlooked, and the increased TAM of its enterprise marketplace puts the crossover to positive GAAP earnings on the roadmap for FY24, the analyst tells investors in a research note.