Susquehanna starts Affirm at Positive, sees sustained growth above consensus

As previously reported, Susquehanna analyst James Friedman initiated coverage of Affirm with a Positive rating and $52 price target. The firm is “generally constructive” on Affirm as a “new way to pay” with various lanes of growth that include rapidly broadening merchant acceptance and a high-velocity funnel of new consumer accounts coming on file, the analyst tells investors. While the firm does worry about cyclicality and incumbent responses, it thinks the medium-term accelerators of merchant acceptance, especially of the Affirm card, will sustain high growth above consensus, the analyst added.