Affirm price target raised to $55 from $39 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Affirm (AFRM) to $55 from $39 and keeps an Equal Weight rating on the shares. With Amazon (AMZN) and Shopify (SHOP) comprising about 23% and 15% of Affirm’s GMV, respectively, the firm would expect Affirm to be a beneficiary of a strong Black Friday/ Cyber Monday period, the analyst tells investors in a fiscal Q2 preview. The firm thinks it is “increasingly likely” the company will begin the process of obtaining an industrial loan company license, which it argues under the current Trump administration “seems to be more of a question of when, not if.”