Affirm price target raised to $74 from $56 at JPMorgan

JPMorgan analyst Reginald Smith raised the firm’s price target on Affirm to $74 from $56 and keeps an Overweight rating on the shares. The firm updated financial technology price targets heading into 2025. Looking to 2025, lower benchmark rates and an improved third party funding environment should spur increased loan origination volume and healthier margins for fintech lenders, the analyst tells investors in a research note. JPMorgan views Shopify (SHOP) and Affirm (AFRM) as core holdings, saying both are growing revenue and volume at or above pandemic levels, “defying broader e-commerce trends.”