金融科技迎利好环境！小摩：Upstart(UPST.US)风险回报比最佳看涨至88美元

智通财经08-21

智通财经APP获悉，摩根大通近日将金融科技借贷平台Upstart(UPST.US)的评级上调，理由是在消费者信贷环境稳定和降息预期背景下，该公司业务量增长强劲且盈利能力持续改善。分析师Reginald Smith与Charles Pearce表示：“我们认为，稳定的信贷趋势和(潜在)降息机会为金融科技企业直至2025年下半年营造了有利环境。展望2025年下半年之后，我们期待看到所覆盖企业如何适应并...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2561434566?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-08-21 10:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2561434566","market":"hk","top_or_hot":-1,"title":"金融科技迎利好环境！小摩：Upstart(UPST.US)风险回报比最佳 看涨至88美元","media":"智通财经","content":"<div>\n<p>智通财经APP获悉，摩根大通近日将金融科技借贷平台Upstart(UPST.US)的评级上调，理由是在消费者信贷环境稳定和降息预期背景下，该公司业务量增长强劲且盈利能力持续改善。分析师Reginald Smith与Charles Pearce表示：“我们认为，稳定的信贷趋势和(潜在)降息机会为金融科技企业直至2025年下半年营造了有利环境。展望2025年下半年之后，我们期待看到所覆盖企业如何适应并...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1332590.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>金融科技迎利好环境！小摩：Upstart(UPST.US)风险回报比最佳 看涨至88美元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n金融科技迎利好环境！小摩：Upstart(UPST.US)风险回报比最佳 看涨至88美元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-08-21 10:32 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1332590.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，摩根大通近日将金融科技借贷平台Upstart(UPST.US)的评级上调，理由是在消费者信贷环境稳定和降息预期背景下，该公司业务量增长强劲且盈利能力持续改善。分析师Reginald Smith与Charles Pearce表示：“我们认为，稳定的信贷趋势和(潜在)降息机会为金融科技企业直至2025年下半年营造了有利环境。展望2025年下半年之后，我们期待看到所覆盖企业如何适应并...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1332590.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1267930490.SGD","symbol_name":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1332590.html","article_id":"2561434566","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2561434566","pubTimestamp":1755743547,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"智通财经APP获悉，摩根大通近日将金融科技借贷平台Upstart的评级上调，理由是在消费者信贷环境稳定和降息预期背景下，该公司业务量增长强劲且盈利能力持续改善。摩根大通将Upstart的评级从“中性”上调至“增持”，并设定了2026年底目标价88美元。另一方面，摩根大通将Kaspi.kz评级从“超配”下调至“中性”，并将CompoSecure和Riskified从“中性”下调至“低配”。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"168701":"金融科技","399699":"金融科技","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU0882574139.USD":"富达环球消费行业基金A ACC","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4585":"ETF&股票定投概念","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","LU0251132253.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","UPST":"Upstart Holdings, Inc.","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","BK4166":"消费信贷","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","BK4207":"综合性银行","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS"},"translate_title":"Fintech welcomes a favorable environment! JPMorgan: Upstart (UPST.US) risk-reward ratio best bullish to $88","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"168701":1,"399699":1,"UPST":1},"content_text":"智通财经APP获悉，摩根大通近日将金融科技借贷平台Upstart(UPST.US)的评级上调，理由是在消费者信贷环境稳定和降息预期背景下，该公司业务量增长强劲且盈利能力持续改善。分析师Reginald Smith与Charles Pearce表示：“我们认为，稳定的信贷趋势和(潜在)降息机会为金融科技企业直至2025年下半年营造了有利环境。展望2025年下半年之后，我们期待看到所覆盖企业如何适应并拥抱代理电商和加密货币/稳定币领域，并扩展数字银行产品服务。”摩根大通将Upstart的评级从“中性”上调至“增持”，并设定了2026年底目标价88美元。研报指出：“在宏观环境向好的背景下，我们更看好经验成熟的金融科技借贷平台，并认为Upstart在个人贷款机构中呈现出最佳的风险回报比。”分析师补充道：“尽管年内营收和调整后税息折旧及摊销前利润(EBITDA)均上修，但Upstart股价今年以来表现弱于大盘，自第二季度财报公布后下跌约20%，主要因市场担忧其资产负债表增长和新可转债发行。”研报同时强调：“贷款买方需求依然强劲，我们认为其名义贷款规模持续增长和利润率扩张仍具潜力。”另一方面，摩根大通将Kaspi.kz(KSPI.US)评级从“超配”下调至“中性”，并将CompoSecure(CMPO.US)和Riskified(RSKD.US)从“中性”下调至“低配”。关于CompoSecure，摩根大通指出：“其增长已连续多个季度波动，且全年业绩指引仍集中在下半年，可见度十分有限。当前股价已处于高位，似乎已计入额外的毛利率扩张和未来并购预期，但管理层对此并未提供明确指引。”对于Riskified，该投行认为其营收和交易量增速已落后于整体电商行业及Shopify(SHOP.US)、Affirm(AFRM.US)等可自由支配支出类同行。“此外，我们越加怀疑Riskified能否在2026年实现15-20%的调整后EBITDA利润率目标，这可能会对股价形成持续压力。”研报称，并表示更看好业务成熟、盈利能力更强且具备电商多元化布局的金融科技企业，如Shopify和Affirm。关于Kaspi，摩根大通表示：“尽管其二季度业绩优于市场担忧推动股价上涨超20%，但剔除Hepsi业务后的有机增长仍面临一系列宏观和监管逆风，这些压力可能至少持续至年底。”“鉴于哈萨克斯坦不透明的宏观环境，我们认为在当前水平转向观望是稳妥的，待增长阻力和股息支付恢复后，再考虑更为积极的立场。”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2561434566","isCrawlerRequest":true}

金融科技迎利好环境！小摩：Upstart(UPST.US)风险回报比最佳 看涨至88美元

精彩评论

金融科技迎利好环境！小摩：Upstart(UPST.US)风险回报比最佳看涨至88美元