Upstart Holdings Soars 17% After Analyst Update : What You Need To Know
Portfolio Pulse from Vaishali Prayag
Upstart Holdings, Inc. (NASDAQ:UPST) shares surged 17% following an upgrade by Wedbush analyst David Chiaverini, who raised the rating from Underperform to Neutral and increased the price target from $10 to $45. The upgrade is based on Upstart's improved funding base and better-than-expected delinquency performance in recent Asset Backed Securities deals. Despite the positive outlook, the ability to scale originations while maintaining credit performance remains a concern.
October 14, 2024 | 6:56 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Upstart Holdings shares rose 17% after Wedbush upgraded its rating and increased the price target significantly. The upgrade is due to improved funding and delinquency performance, but challenges in scaling originations persist.
The significant price target increase from $10 to $45 by Wedbush, along with the upgrade from Underperform to Neutral, indicates a strong positive sentiment shift. The improved delinquency performance and funding base are key factors driving the stock price up. However, the ongoing challenge of scaling originations while maintaining credit performance tempers the outlook slightly.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100