Jefferies raised the firm’s price target on SoFi Technologies (SOFI) to $13 from $12 and keeps a Buy rating on the shares. Q3 results beat consensus, driven by higher origination, net interest income, and non-interest revenue from the new loan platform, while FY24 guidance was raised more than the Q3 beat, the analyst tells investors. SoFi is “well-positioned for a rate cut environment,” the analyst added in a post-earnings note.
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