Affirm price target lowered to $12 from $18 at Deutsche Bank

Deutsche Bank analyst Bryan Keane lowered the firm’s price target on Affirm to $12 from $18 and keeps a Hold rating on the shares. The firm notes the company reported revenue growth below expectations at the bottom end of guidance with gross merchandise value and revenue less transaction costs below guidance. Affirm is now signaling a willingness to compromise on GMV growth to protect credit quality, Deutsche adds.