Upstart price target lowered to $64 from $72 at BTIG

BTIG lowered the firm’s price target on Upstart to $64 from $72 but keeps a Buy rating on the shares. The company’s Q2 results saw a top-line miss and its Q3 guidance was muted, driven by lower net interest income than expected, the analyst tells investors in a research note. Beyond this quarter however, Upstart demand shows no signs of slowing, the firm states, adding that the company has likely rounded the corner and is no longer facing the same risks it was during 2022.