Citizens JMP initiated coverage of SoFi Technologies (SOFI) with an Outperform rating and $17 price target implying 38% upside from current levels. The firm cites the company’s growth trajectory, improving profitability profile, and undervaluation relative to its earnings potential over time for the Outperform rating. SoFi is at an inflection point, with “substantial” earnings potential that market is currently undervaluing, offering a compelling long-term investment opportunity, the analyst tells investors in a research note. Citizens JMP says the company has a “massive addressable market opportunity with proven growth.”
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