Morgan Stanley lowered the firm’s price target on Klarna (KLAR) to $39 from $43 and keeps an Equal Weight rating on the shares. The company reported “solid” Q3 results but the upside was more limited than expected, the analyst tells investors in a research note. In addition, Klarna’s growing fair financing portfolio drove concerns about its credit durability, the analyst tells investors in a research note. Morgan Stanley upped estimates post the quarter but dropped the price target to better reelect relative valuation.
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