Affirm price target lowered to $17 from $21 at Truist

Truist analyst Andrew Jeffrey lowered the firm’s price target on Affirm to $17 from $21 but keeps a Buy rating on the shares. The company’s Q2 earnings miss was a "stumbling block" but not a "disqualifying event" for Affirm, the analyst tells investors in a research note. The firm adds that Affirm is facing slack demand in certain categories, eroding credit quality, slower GMV and revenue growth, and mishandled pricing changes, but the company remains a "category leader" in Buy-Now-Pay-Later space as well as an acquisition target.