Evercore ISI thinks investors to snap-up battered shares of Affirm . Analyst Adam Frisch initiated coverage of the buy-now-pay-later stock at outperform. Frisch’s $50 price target implies shares can rally 37.2% over Tuesday’s closing level. “Call us crazy for going into the eye of the storm with a consumer credit play,” Frisch wrote to clients in a Tuesday note. “But AFRM just has better risk management than the peer group and is well positioned to grow its user base in a fast-growing space with product expansion over time.” Frisch said the company can benefit if the cloudy macroeconomic environment leads traditional credit providers to shut out potential customers. As a result, these customers could lean on buy-now-pay-later platforms to stay above water during periods of financial turmoil. The analyst also noted the stock’s recent sell-off of around 60%, which he said brought shares to trough levels. He said that the stock is now trading at levels that go back to when Affirm’s credit facilities were weak and buy-now-pay-later was seen as just a fad. Most analysts who cover the stock have a buy-equivalent rating, according to LSEG. But Frisch has a notably conservative price target compared with the average on Wall Street. Still, shares popped about 1% in Wednesday’s premarket on the heels of his upgrade. That can signal a reprieve for the beat-down stock, which has plunged slightly over 40% in 2025. AFRM YTD mountain AFRM in 2025 Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
