BofA Starts Covering Affirm Holdings (AFRM) with Buy Rating

Core Viewpoint - Affirm Holdings Inc. (NASDAQ:AFRM) is identified as one of the most undervalued stocks, with a Buy rating and a price target of $82 from BofA Securities, driven by its diversified growth and strong gross merchandise volume momentum [1]. Group 1: Company Performance - BofA Securities highlights Affirm's expanding merchant and consumer networks, along with its efficient multichannel model, as key drivers for above-market growth [1]. - The company has shown consistent unit economics and disciplined credit management, reinforcing confidence in its business model [2]. - Affirm has increased its fiscal 2026 targets, indicating no signs of credit or demand weakness [2]. Group 2: Market Trends - Long-term demand for Affirm's services is bolstered by younger consumers increasingly adopting buy-now, pay-later options and favoring Affirm as their payment choice [2]. - The company operates a payment network across Canada, the United States, and internationally, offering a consumer-focused app, point-of-sale payment solutions, and merchant commerce solutions [4]. Group 3: Strategic Partnerships - Stripe announced support for Affirm's buy-now, pay-later methods as a payment option for Shared Payment Tokens, enhancing Affirm's payment capabilities [3].