Morgan Stanley Downgrades Affirm Holdings to Underweight, Raises Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst James Faucette has downgraded Affirm Holdings (NASDAQ:AFRM) from Equal-Weight to Underweight, while also raising the price target from $15 to $20.

December 18, 2023 | 11:18 am
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Affirm Holdings was downgraded by Morgan Stanley from Equal-Weight to Underweight, although the price target was raised from $15 to $20.
The downgrade to Underweight suggests that Morgan Stanley believes Affirm Holdings' stock may perform worse than the average stock within the analyst's coverage universe. However, the increase in price target indicates a belief that the stock still has potential to grow from its current price, albeit at a potentially slower pace than its peers. This mixed signal could lead to short-term negative sentiment among investors, as the downgrade may weigh more heavily on the stock than the increased price target.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100