Affirm price target lowered to $56 from $62 at UBS

UBS lowered the firm’s price target on Affirm (AFRM) to $56 from $62 and keeps a Neutral rating on the shares. Affirm’s Q3 was above the Street across Gross Merchandise Value, though Revenue Less Transaction Costs was below estimates and adjusted operating income was roughly in line, the analyst tells investors in a research note. UBS continues to see areas of strength and potential upside via new products and partnerships, Affirm Card, along with stable unit economics, the analyst tells investors in a research note.