Why Affirm Holdings Stock Leaped 12% Higher Today

Investors were clearly in a mood to buy now and pay immediately for shares of specialty financial company Affirm (NASDAQ: AFRM) on Friday. The buy now, pay later (BNPL) commerce facilitator didn't have any proprietary news to deliver; rather, it benefited from the latest in a recent series of analyst recommendation upgrades. With this wind at its back, the company's share price zoomed more than 12% higher on the day.In the third such instance this week, a pundit tracking Affirm stock changed his recommendation for the better. This person was Wells Fargo's Andrew Bauch, who now feels the company is worthy of an overweight (i.e., buy) designation; previous to that he had tagged it as an equalweight (hold). Accompanying this was a 30% boost in Bauch's target price, to $52 per share from $40. The analyst wrote in his latest Affirm research note that the BNPL specialist boasts credit sophistication that is at least the equal of any peer in the market. He also waxed bullish about its "unique and diverse" funding program, and its dynamic pricing model. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool