Affirm Stock Jumps. Why J.P. Morgan Upgraded Shares After Earnings Tumble.

Affirm Stock Jumps. Why J.P. Morgan Upgraded Shares After Earnings Tumble.·Barrons.com
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When Affirm Holdings took a tumble on Wednesday despite a great quarterly report at the consumer-lending company, Mizuho Securities analysts saw a buying opportunity. J.P. Morgan analysts Reginald Smith and Charles Pearce upgraded shares of Affirm to Overweight from Neutral and lifted their target for the price to $43 from $41 in a Thursday report titled “Not Letting a Good Sell Off Go to Waste.” “Following a fantastic F3Q with better than expected GMV and an upbeat outlook, AFRM is trading lower in sympathy with SHOP, which is seeing a -19% decline in the stock amid soft guidance and operating expense concerns,” Mizuho analysts wrote on Wednesday.

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