RBC Capital lowered the firm’s price target on Affirm (AFRM) to $87 from $97 and keeps a Sector Perform rating on the shares after its Q1 results. In addition to expanding its relationship with Amazon (AMZN) for 5-years, the results and updated outlook provided positive proof-points that the consumer remains resilient and engaged, the analyst tells investors in a research note. RBC adds however that it is cutting its price target to a valuation that is more in line with similar growth peers.
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