The Globe and Mail reports in its Friday, Feb. 2, edition that Eight Capital analyst Adhir Kadve thinks the market is "undervaluing" several key segments in Mogo's total value. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kadve, seeing the potential for "significant value to be surfaced," elevated his share target for Mogo to $6 from $5.50, while maintaining a "buy" recommendation. Analysts on average target the shares at $6.50. Mr. Kadve says the Vancouver-based financial technology company's 13-per-cent interest in Wonderfi Technologies is worth nearly its entire market capitalization. Mr. Kadve says in a note: "For conservatism, in our valuation we mark-to-market Mogo's WonderFi stake. However, we note that at our WonderFi target price [of 50 cents per share], Mogo's stake would be worth $1.70/share, or approximately $42-million, representing more than 90 per cent of Mogo's total market capitalization of $51-million, as of January 31st, which, in our view, highlights that the core Mogo operations continue to be undervalued by investors. ... Excluding the mark-to-market value for WonderFi, the core Mogo is currently carrying a market cap of $37-million."