Upstart price target lowered, ‘Negative Catalyst Watch’ opened at Citi

Citi analyst Peter Christiansen lowered the firm’s price target on Upstart to $17 from $33 and keeps a Neutral rating on the shares, on which he is also opening a "30-day Negative Catalyst Watch" ahead of the company’s Q4 report due on February 14. While he expects Q4 results to meet the company’s outlook, he is concerned that deteriorating non-prime credit fundamentals and weakening funding supply will lead to a weaker outlook.