As previously reported, Goldman Sachs upgraded Upstart (UPST) to Neutral from Sell with a price target of $35, down from $44. The firm’s prior thesis was based on the potential for margin and take rate compression from new products that it thought was being underappreciated by the Street, but now sees a more balanced risk reward given how share have underperformed, the analyst tells investors. Since assuming the stock to Sell last July, shares have decreased 60%, the analyst noted.
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