Morgan Stanley Downgrades Affirm Holdings: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has downgraded Affirm Holdings (NASDAQ:AFRM) to Underweight with a new price target of $20.00, up from the previous $15.00. Affirm's shares have fallen 2.77% to $42.75, and the new target suggests a potential 53.22% decrease in share price. Affirm provides a digital commerce platform, mainly generating revenue in the U.S.
December 18, 2023 | 5:00 pm
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NEGATIVE IMPACT
Morgan Stanley downgraded Affirm Holdings to Underweight and increased the price target to $20, indicating a potential 53.22% drop from the current price.
The downgrade by a major financial institution like Morgan Stanley can have a significant negative impact on investor sentiment, potentially leading to a decrease in stock price in the short term. The increase in price target from $15 to $20 does not mitigate the negative impact of the downgrade to Underweight, especially since the new target is still far below the current trading price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100