Affirm hits six-month high after Barclays raises PT to $50
** Shares of buy now, pay later firm Affirm Holdings AFRM.O jump 5.3% to $43.91, hitting their highest level since February
** Barclays Capital raises PT on stock to $50 from $41, which represents a 20% upside to AFRM shares' previous close
** Brokerage says potential reduction in rates will likely impact AFRM's near-term results, with the more immediate benefit of better approval rates for borrowers as well as a more active user base
** Barclays sees strong growth trajectory for AFRM over a long period of time, as BNPL penetration in e-commerce continues to increase
** AFRM said on Wednesday it expects to be profitable by Q4 2025
** Brokerage BTIG says AFRM's promise of profitability likely to cause short covering, as it doesn't think investors can short Affirm shares if it is actually profitable
** As of previous close, AFRM shares down 15.2% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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