Shares of Affirm Holdings, Inc. (AFRM) surged 5.67% in pre-market trading, as investors reacted positively to new analyst coverage and optimistic price targets for the buy-now-pay-later (BNPL) company.
The rally was primarily driven by TD Cowen's initiation of coverage on Affirm with a Buy rating and a $50 price target. This bullish stance from a major financial services firm has boosted investor confidence in Affirm's growth prospects. Adding to the positive sentiment, analysts polled by FactSet have given Affirm an average rating of overweight with a mean price target of $70.21, suggesting significant upside potential from current levels.
Affirm Holdings, a leader in the BNPL space, has been gaining traction as consumers increasingly turn to flexible payment options for online and in-store purchases. The positive analyst coverage indicates growing optimism about Affirm's business model and its ability to capitalize on the expanding BNPL market. As the company continues to forge partnerships with major retailers and e-commerce platforms, investors appear to be betting on Affirm's long-term growth prospects in the evolving landscape of consumer finance.
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