Affirm initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Affirm (AFRM) with a Buy rating and $90 price target Buy Now Pay Later has seen exponential growth over the past decade and Affirm is considered the category leader in BNPL payment options to consumers in the U.S., the analyst tells investors. “Tremendous” share gains in the U.S. have translated into a GAAP profitable business and a mid-20s grower, adds the analyst, who sees “several catalysts on the horizon to deliver upside to consensus estimates.”