Affirm upgraded to Outperform from Market Perform at JMP Securities

JMP Securities analyst David Scharf upgraded Affirm (AFRM) to Outperform from Market Perform with a $78 price target The analyst believes Affirm is a “long-term secular winner” at the expense primarily of the credit card industry. The company is well positioned to capitalize on the continued adoption of buy now pay later solutions for everyday purchases and benefits from a “more robust” loan platform relative to competitors, the analyst tells investors in a research note. JMP is constructive on the shares at current levels based on expectations for a benign regulatory landscape under the incoming administration, which it says removes a key overhang that had previously kept it on the sidelines.