Affirm initiated with a Neutral at Seaport Research

Seaport Research initiated coverage of Affirm (AFRM) with a Neutral rating and no price target Affirm is a “high-quality” buy now pay later provider “with plenty of greenfield ahead of it,” the analyst tells investors in a research note. The firm’s earnings estimates are below the Street’s and it believes the shares will be “fairly rangebound.” The Walmart and Klarna partnership should eventually impact Affirm, the analyst tells investors in a research note.