Morgan Stanley Just Downgraded Affirm Stock. Here's Why.

Morgan Stanley downgraded Affirm (AFRM) from "Overweight" to "Equal Weight" on June 25, simultaneously removing the stock from its Top Pick list.

Analyst James Faucette characterized the move as a "valuation call" rather than a structural one — emphasizing that the firm's long-term conviction on AFRM's positioning remains fully intact.

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At the time of writing, Affirm stock is trading just 4% above its price at the start of this year.

The downgrade comes after AFRM shares surged more than 80% from their March 27 close, a rally that Morgan Stanley believes has brought the stock to fair value.

The bank noted that three key concerns underpinning its original bullish thesis — GMV durability, funding execution,

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/morgan-stanley-just-downgraded-affirm-203736106.html)