Upstart price target lowered to $11.50 from $15 at Morgan Stanley

Morgan Stanley analyst James Faucette lowered the firm’s price target on Upstart to $11.50 from $15 and keeps an Underweight rating on the shares, stating that its Q3 results and Q4 outlook reflect the ongoing headwinds impacting the business. Expanding losses and balance sheet build increase uncertainty, argues the analyst following the company’s quarterly report.