Affirm downgraded to Neutral at BofA on ‘sticky’ negative sentiment

As previously reported, BofA analyst Jason Kupferberg downgraded Affirm to Neutral from Buy with a price target of $13, down from $32. 2022 has been "very tough for investor sentiment" on Affirm and he is increasingly concerned that this sentiment will "remain sticky longer than previously anticipated," even with the stock near all-time lows, given credit conditions, the situation for lower income consumers and funding concerns, Kupferberg tells investors.