Affirm Partners with Backcountry, Morgan Stanley Cuts Rating to Equal Weight with $79 Target
AFRM•Morgan Stanley downgraded Affirm to Equal Weight from Overweight with a maintained $79 price target, citing market appreciation for the durability of its growth, funding and credit. The company also launched a partnership with Backcountry to offer outdoor enthusiasts a transparent pay-over-time financing option.
1. Morgan Stanley Downgrades Affirm to Equal Weight
Morgan Stanley moved Affirm’s rating from Overweight to Equal Weight while retaining a $79 price target, noting that investors now recognize the durability of the company’s growth trajectory, funding structure and credit performance.
2. Backcountry Partnership Enables Transparent Pay-Over-Time Financing
Affirm has partnered with outdoor retailer Backcountry to introduce a transparent pay-over-time solution, allowing customers to split equipment purchases into manageable installments and expanding Affirm’s merchant network in the outdoor retail segment.
