
The buy-now-pay-later (BNPL) company, Affirm Holdings (AFRM), is starting to dust itself off and find its footing after a bruising start to 2026. Morgan Stanley has come out swinging in its defense as analyst James Faucette named it the firm’s Top Pick, backed it with an “Overweight” rating, and set a $76 price target.
Faucette has hung his hat on three pillars. These include the potential for upward estimate revisions, private credit fears that Morgan Stanley explicitly views as overdone, and a strong near-term catalyst path that could keep momentum from slipping through the cracks.