Morgan Stanley Downgrades SoFi Techs to Underweight, Raises Price Target to $7
Portfolio Pulse from richadhand@benzinga.com
Morgan Stanley analyst Betsy Graseck has downgraded SoFi Techs (NASDAQ:SOFI) from Equal-Weight to Underweight and raised the price target from $6.5 to $7.
July 13, 2023 | 10:00 am
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SoFi Techs has been downgraded to Underweight from Equal-Weight by Morgan Stanley, with a raised price target of $7.
The downgrade from Morgan Stanley suggests that the analyst believes SoFi Techs' stock may underperform compared to other stocks. However, the raised price target indicates a slightly more optimistic outlook on the stock's future price. This mixed signal could lead to short-term uncertainty and potential downward pressure on the stock.
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IMPORTANCE 80
RELEVANCE 100