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<p class="has-drop-cap">Shares of Affirm (NASDAQ: AFRM) popped over 15% on Tuesday, bringing the fintech firm’s stock price to the highest level since February 2022 on the news of a <a aria-label="fresh deal with retail giant Walmart (opens in a new tab)" href="https://www.pymnts.com/bnpl/2023/affirm-brings-installment-payments-to-walmart-self-checkout/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fresh deal with retail giant Walmart</a>. Subsequently, Mizuho analysts <a aria-label="raised their price target (opens in a new tab)" href="https://www.streetinsider.com/Analyst+Comments/Affirm+%28AFRM%29+Price+Target+More+Than+Doubled+to+%2465+at+Mizuho+Securities/22548560.html" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">raised their price target</a> on Mizuho on Wednesday from $30 to $65.&nbsp;</p>
<h3 id="affirm-to-add-pay-over-time-option-at-4-500-walmart-stores-stock-surges-15">Affirm to Add Pay-Over-Time Option at 4,500 Walmart Stores, Stock Surges 15%</h3>
<p>Buy now, pay later service provider Affirm witnessed a significant <a href="https://tokenist.com/investing/how-do-stocks-work/" rel="noopener noreferrer nofollow" class="deco-link">stock</a> price surge of more than 15% on Tuesday after announcing an expansion of its long-standing partnership with Walmart (NYSE: WMT).</p>
<p>The announcement noted that as part of the new deal, Affirm will add pay-over-time options to self-checkout kiosks at over 4,500 Walmart stores across the United States.&nbsp;</p>
<blockquote class="wp-block-quote">
 <p>“Recent Affirm research revealed that more than half of Americans are looking for retailers to offer a buy now, pay later option at checkout. Moreover, we’ve found that 76% of consumers would either delay or not make a purchase without Affirm.”</p> <cite>– Affirm Senior Vice President of Revenue Pat Suh said in a news release.</cite>
</blockquote>
<p>By offering the pay-over-time service, Affirm hopes it will help more US consumers raise their purchasing power during the holiday seasons and beyond. Apart from Walmart’s stores, app, and website, consumers can also pay with Affirm at the retailer’s auto and vision centers.&nbsp;</p>
<p>Affirm’s shares ended the Tuesday session at $50.46, marking its highest closing price since February 2022.</p>
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<h3 id="mizuho-hikes-affirm-pt-to-60-but-wall-street-still-divided">Mizuho Hikes Affirm PT to $60, But Wall Street Still Divided</h3>
<p>In the wake of its expanded cooperation with Walmart, analysts at Mizuho raised their price target on Affirm’s stock from $30 to $65, implying a potential upside of roughly 30% from the company’s current share price.</p>
<blockquote class="wp-block-quote">
 <p>“We expect the debate around Affirm to increasingly shift from&nbsp; BNPL&nbsp; &amp;&nbsp; partnerships&nbsp; like&nbsp; Walmart,&nbsp; to&nbsp; AFRM&nbsp; becoming&nbsp; a&nbsp; full-fledged financial services firm with direct deposits, savings, etc.”</p> <cite>– Mizuho strategist said in a Wednesday note. </cite>
</blockquote>
<p>More specifically, the combination of accelerated adoption of the Affirm Card and an estimated fourfold increase in card spending for users with direct deposit “could drive step-function increase to our medium-term expectations,” strategists wrote.&nbsp;</p>
<p>The move comes just days after Morgan Stanley analysts <a href="https://www.investing.com/news/stock-market-news/morgan-stanley-downgrades-affirm-holdings-as-valuation-difficult-to-justify-432SI-3258993" target="_blank" aria-label="downgraded Affirm’s stock (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">downgraded Affirm’s stock</a> to Underweight from Equal Weight, citing concerns about the fintech firm’s valuation and potential customer quality deterioration. The experts raised their price target on the stock from $15 to $20.&nbsp;</p>
<p>Although analysts’ views remain mixed, whether more brokerage firms will mirror Mizuho’s bullishness on Affirm’s prospects following the Walmart partnership expansion remains to be seen. The retail juggernaut <a href="https://tokenist.com/earnings-review-walmart-beats-expectations-guidance-misses-slightly/" rel="noopener noreferrer nofollow" class="deco-link">reported its Q3 results</a> last month, topping consensus estimates.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em><strong>Which perspectives from the two Wall Street banks do you find more aligned with your views on Affirm’s future prospects? Let us know in the comments below.&nbsp;</strong></em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/mizuho-ups-affirms-pt-to-65-after-stock-surges-15-over-a-day/">Mizuho Ups Affirm’s PT to $65 After Stock Surges 15% Over a Day</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Mizuho Ups Affirm’s PT to $65 After Stock Surges 15% Over a Day

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