BTIG upgrades Upstart Holdings to 'neutral' on strong lending volume growth

Upstart Holdings

11/11/2024 19:52

** BTIG upgrades AI lending platform Upstart Holdings
 UPST.O  to "neutral" from "sell"
    ** Brokerage says it should have upgraded UPST sooner,
especially as it had been signaling its bullishness on UPST
lending volumes heading into Q3 results
    ** Lending volumes likely to accelerate further from here,
which is the key catalyst for UPST shares into 2025 - BTIG
    ** Brokerage says the most important driver to UPST's
pathway is the "almost insatiable appetite" of private credit
funds for consumer loans
    ** Three of 16 brokerages rate the stock "buy" or higher,
nine "hold" and four "sell" or lower; their median PT is $41 -
LSEG data
    ** As of last close, UPST shares up 98.2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))