BofA upgraded Affirm (AFRM) to Buy from Neutral with an unchanged price target of $36. The analyst believes the company’s GAAP profitability may be closer than consensus expects. Affirm’s fiscal Q4 print and guidance could be a positive catalyst, and fiscal 2025 estimates “seem achievable,” the analyst tells investors in a research note. The firm says lower interest rates should also be supportive of the company’s revenue less transaction costs, its most important profit metric. BofA is bullish on Affirm’s new and expanded partnerships, especially with Apple (AAPL), and says the company’s credit risk continues to be well-controlled.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AFRM:
- Affirm Holdings call volume above normal and directionally bullish
- Nike and Alphabet downgraded: Wall Street’s top analyst calls
- Affirm initiated with a Market Perform at JMP Securities
- Affirm and Block: Goldman Sachs Selects the Best Fintech Stocks to Buy
- Affirm Stock Jumps on Goldman’s Endorsement