Piper Sandler analyst Arvind Ramnani upgraded Upstart Holdings, Inc. (NASDAQ:UPST) to Overweight from Neutral, raising the price forecast to $85 from $31. According to the analyst, the company is benefiting from a more favorable interest rate environment, improved lending dynamics, and upgrades to its lending model. The strong performance in the quarter was largely driven by enhancements in the lending model, along with the impact of lower interest rates, Ramnani writes. In the third quarter, the company reported total revenue of $162 million, reflecting a 20% year-over-year increase and a 27%…