Buy now, pay later (BNPL) stocks, like Affirm Holdings (AFRM) could push higher.
That’s because BNPL is expected to account for $782 million in online spending – an 18.8% year over year jump, according to Adobe.
Helping, Bank of America just raised its price target on AFRM to $27 from $25. Mizuho also raised its price target to $30 from $24, noting the company “currently enjoys a small penetration of a massive total addressable market, rapid product innovation and adoption like the Affirm Card and transactional accounts, and a clear plan to more than doubling gross merchandise volume over the medium-term,” as reported by TipRanks.com.