Why Shares of SoFi Are Rising Today
Shares of digital bank and one-stop shop financial services company SoFi Technologies (NASDAQ: SOFI) traded roughly 3.3% higher today as of 2:53 p.m. ET after receiving an upgrade from Wall Street.
Bank of America analyst Mihir Bhatia upgraded SoFi from a neutral rating to a buy rating and raised the stock's price target from $8 per share to $9. The stock currently trades at just over $6 per share.
Bhatia sees an attractive risk-reward proposition right now and expects SoFi to benefit from the expiration of the student loan moratorium at the end of the year.
Source Fool.com
