Citi Is Pounding the Table on SOFI Stock With New ‘Buy' Rating

Shares of SoFi (NASDAQ:SOFI) stock are in the green after Citi analysts led by Ashwin Shirvaikar resumed coverage of the stock with a price target of $11 and a “buy” rating.Shirvaikar believes that SoFi’s recent debt-for-equity transaction should help improve its total risk-based capital ratio and expected GAAP income for the first quarter. Last month, the company announced and closed an agreement that saw it issue 72.62 million shares in exchange for $600 million of 0% senior convertible notes due in 2026. ...