Upstart Holdings hits over 1-yr high after Wedbush upgrades to 'neutral'

Upstart Holdings

14/10/2024 15:42

(Updates)
    ** Shares of lending platform Upstart Holdings  UPST.O  jump
as much as 12.6% hitting their highest in over a year; last up
11.4% at $52.40
    ** Wedbush upgrades to "neutral" from "outperform" 
    ** Raises PT from $10 to $45, which is still 4.3% below
stock's last close
    ** Brokerage says improving credit quality, lower interest
rates could boost loan originations
    ** Adds credit quality of UPST loans appears to be
incrementally improving
    ** One of 16 brokerages rate the stock "buy", eight "hold"
and seven "sell" or lower; median PT is $30 - LSEG data
    ** As of last close, UPST shares up 15.1% YTD

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