Fintech Affirm up after TD Cowen starts coverage with 'buy' rating

Buy now, pay later company Affirm Holdings' AFRM.O shares rise 4.2% to $39.15

TD Cowen initiates AFRM coverage with "buy" rating and a $50 target price

Believe AFRM's slate of heavyweight partners in e-commerce (e.g. Amazon AMZN.O, Shopify SHOP.TO) demonstrates its capabilities and allows it to go after volume from both big and small businesses more effectively than peers - brokerage

With increased uncertainty around direction of growth and credit in the economy, TD Cowen believes that to the extent that the industry tightens credit, it will likely benefit AFRM as it will be able to serve more customers, as its loans have shorter durations and are purpose-driven

Fintech companies like Robinhood HOOD.O and AFRM have been caught in the whirlwind of President Donald Trump's sweeping tariffs, sending shares turning sharply downward

AFRM had fallen over 38% YTD, as of Monday's close

13 of 24 brokerages rate the stock "buy" or higher, 11 "hold"; their median PT is $68.90, according to data compiled by LSEG