Upstart price target raised to $9 from $8 at Compass Point

Compass Point analyst Giuliano Bologna raised the firm’s price target on Upstart to $9 from $8 and keeps a Sell rating on the shares after updating the firm’s model and estimates post-Q2 earnings. The firm believes competition will likely remain an overhang to origination volume recoveries in the near-term and believes the company’s trajectory to reaching profitability on a durable basis “remains difficult to forecast,” the analyst tells investors.