Morgan Stanley Downgrades SoFi Techs to Underweight, Lowers Price Target to $6.5
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Jeffrey Adelson has downgraded SoFi Technologies (SOFI) from Equal-Weight to Underweight and reduced the price target from $7 to $6.5.
January 31, 2024 | 10:35 am
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NEGATIVE IMPACT
SoFi Technologies has been downgraded by Morgan Stanley from Equal-Weight to Underweight, with a price target reduction from $7 to $6.5.
Analyst downgrades typically lead to negative sentiment among investors and can result in a short-term decline in the stock price. The reduction in the price target further emphasizes a bearish outlook for SoFi, suggesting that the stock may underperform according to Morgan Stanley's analysis.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100