Affirm Shares Rise on BofA Price Target Hike, Peers Also Gaining Ground
Affirm Holdings (NASDAQ:AFRM) surged 6% following a price target increase from Bank of America to $104 per share. The move came as the firm raised its outlook for Affirm's gross merchandise volume and highlighted potential growth drivers such as expansion into long-duration lending in the UK, B2B payments, and brand-sponsored promotions. Sezzle (NASDAQ:SEZL) climbed 4%, PayPal Holdings (NASDAQ:PYPL) rose by 3%, and Klarna (NYSE:KLAR) gained 2% amid a broader decline in Treasury yields. The rally reflects improved sentiment toward the buy-now-pay-later sector, which is outperforming the S&P 500 ETF Trust (SPY). Analysts are increasingly optimistic about Affirm's future performance based on its strong fiscal Q4 results and forward guidance. Bank of America analyst Matthew O'Neill cited Affirm’s $64 billion GMV target as a conservative estimate, suggesting upside potential. The price targets from major banks like BMO Capital, J.P. Morgan, Needham, RBC Capital, and Citigroup have also climbed recently, reinforcing investor confidence in the stock.
Tickers: $AFRM $BAC $KLAR $PYPL $SEZL
Topics: Affirm Bank of America PayPal Sezzle Treasury yields