As previously reported, Baird analyst David Koning initiated coverage of Affirm (AFRM) with a Neutral rating and $55 price target While the firm likes the growth potential, noting that BNPL is only about 1% penetrated within U.S. electronic payments, it also acknowledges macro risks of Affirm’s credit products, given its low-to-middle income borrowers, some discretionary spending and the potential for delinquencies and bad debt expense.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AFRM:
- Affirm initiated with a Neutral at Baird
- Affirm: Superior BNPL Model, Strong Underwriting, and Structural Advantages Support Buy Rating
- Klarna price target lowered to $23 from $39 at Morgan Stanley
- Truist downgrades Gemini, prefers other ‘high-quality assets’
- Costly Yet Compelling: 3 High P/E Ratio Stocks Poised for Over 75% Gains