Needham Raises Rating on Affirm, Citing Bank License as a Potential Structural Benefit
Needham & Company upgraded Affirm from Hold to Buy after the company applied for a bank charter, arguing that an FDIC-insured deposit base could materially change Affirm's funding costs, accelerate product integration, and boost long-term earnings potential. The firm set a $100 price target and highlighted potential funding cost savings and product…