B. Riley analyst Hal Goetsch upgraded Upstart (UPST) to Buy from Neutral with a price target of $105, up from $49. The company reported a “very strong” Q4 that “smashed” guidance and consensus estimates, the analyst tells investors in a research note. The firm says Upstart also issued a “robust outlook” for continued growth acceleration in 2025. Riley views the company as being in the early stages of a product- and technology-led growth acceleration, aided by a favorable improvement in the macro environment for the first time in several years. It sees the Upstart fee-based model as highly scalable into a better growth outlook.
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Read More on UPST:
- Upstart upgraded to Neutral from Underweight at JPMorgan
- Upstart Holdings Reports Robust Growth in 2024
- Closing Bell Movers: Upstart jumps 24%, Lyft slip 9% on earnings
- UPST Earnings: Upstart Holdings’ Stock Rockets 25% Higher on Strong Financial Results
- Upstart up 24% at $83.50 afterhours after Q4 results, above-consensus guide
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