Affirm initiated with an Equal Weight at Stephens

Stephens initiated coverage of Affirm (AFRM) with an Equal Weight rating and $69 price target Looking at the FinTech space, the analyst weighs the limited operating histories and performance along with recent capital inflows when evaluating the eight stocks on which the firm initiated coverage. For Affirm in particular, the analyst balances the “robust growth opportunity” with a premium valuation, competitive environment and uncertainty around credit performance in a cycle to arrive at an Equal Weight rating.