Affirm price target lowered to $20 from $24 at DA Davidson

DA Davidson analyst Christopher Brendler lowered the firm’s price target on Affirm to $20 from $24 but keeps a Buy rating on the shares. The company’s Q2 results were "broadly disappointing", but the firm remains positive on Affirm’s pricing initiatives improving its top line trends in the second half of the year, the analyst tells investors in a research note. DA Davidson further cites the improvement in credit quality as a "big positive that ensures access to funding" while forecasting the company to be a "long-term winner" in the buy-now-pay-later space.