Piper Sandler Upgrades $TEM to Overweight, Raises PT to $76 from $56 Three growth drivers that were previously difficult to underwrite are now increasingly visible: (1) the pending acquisition of Personalis gives Tempus ownership of a differentiated tumor-informed MRD platform; (2) the positive INTerpath-001 readout increases the strategic value of Personalis’ and TEM's role as the tumor sequencing provider for potentially a new therapeutic class; and (3) FDA approval of tumor-only xT CDx clears a key hurdle for Tempus to pursue unified ADLT pricing for xT, with xF potentially following in 2H27. Analyst: David Westenberg

Piper Sandler initiates $SOFI at Overweight with a $22 price target and calls current levels an “attractive entry point for long-term investors” as SoFi enters its next leg of growth. The firm models a 22% revenue CAGR and 27% adjusted EBITDA CAGR through 2028 as SoFi pairs a large lending and debt-consolidation opportunity with a broader ecosystem spanning checking savings investing credit cards and insurance. The real flywheel is cross-sell with product growth at 43% outpacing 35% member growth in Q2 as customers add more products which Piper says should lift engagement lifetime value and growth durability.

Pipeline-building is not for the faint-hearted, with construction frequently mired in regulatory delays and subject to geopolitical volatility. Yet the Iran war has heightened the need for such investments

Pipeline-building is not for the faint-hearted, with construction frequently mired in regulatory delays and subject to geopolitical volatility. Yet the Iran war has heightened the need for such investments Photo: Getty Images