Affirm Earns Stock Upgrade, Morgan Stanley Says Apple Pay Integration Expected To Drive $1.94B In Transactions
Portfolio Pulse from Vandana Singh
Morgan Stanley has upgraded Affirm Holdings Inc. (NASDAQ:AFRM) due to its integration with Apple Pay, which is expected to drive $1.94 billion in transactions by FY26. The upgrade reflects Affirm's strategy to attract higher-income users and improve promotional financing offers.
October 09, 2024 | 5:04 pm
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Morgan Stanley upgraded Affirm Holdings Inc. to Equal-Weight with a price target of $37, citing its integration with Apple Pay and strategies to attract higher-income users. This is expected to drive $1.94 billion in transactions by FY26.
The upgrade by Morgan Stanley is based on Affirm's strategic integration with Apple Pay, which is expected to significantly increase transaction volume. The focus on higher-income users and promotional financing offers enhances Affirm's growth prospects, justifying the stock upgrade and higher price target.
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