Group 1 - Morgan Stanley upgraded Upstart's rating from "Neutral" to "Overweight" due to strong business growth and improving profitability in a stable consumer credit environment and anticipated interest rate cuts [1] - The target price for Upstart is set at $88 by the end of 2026, reflecting a positive outlook for experienced fintech lending platforms [1] - Despite revenue and adjusted EBITDA upgrades, Upstart's stock has underperformed the market, dropping approximately 20% since the second quarter earnings report [1] Group 2 - Morgan Stanley downgraded Kaspi.kz's rating from "Overweight" to "Neutral" due to ongoing macro and regulatory headwinds affecting organic growth, particularly after excluding the Hepsi business [2] - CompoSecure's growth has been volatile for several quarters, and its current stock price appears to reflect expectations of margin expansion and future acquisitions without clear guidance from management [2] - Riskified's revenue and transaction growth have lagged behind the overall e-commerce sector, raising doubts about achieving its 2026 adjusted EBITDA margin target of 15-20%, which may exert continued pressure on its stock [2]