Compass Point starts Upstart with a Sell, $6 price target

As previously reported, Compass Point analyst Giuliano Bologna initiated coverage of Upstart with a Sell rating and $6 price target. The AI enabled marketplace lender has recently run into trouble as the demand for personal loans has slowed, said the firm, which estimates tangible book value will "continue to fall significantly over the next few quarters" and that the company will face significant challenges returning to GAAP profitability over the next few years.