Upstart price target raised to $16 from $14 at Mizuho

Mizuho analyst Dan Dolev raised the firm’s price target on Upstart to $16 from $14 and keeps an Underperform rating on the shares. The company announced it will cut its workforce by 20%, which reduces pressure on its operating losses, the analyst tells investors in a research note. However, rising delinquencies and funding issues "remain a drag" for Upstart, the firm adds.