Klarna price target lowered to $46 from $51 at BofA

BofA analyst Mihir Bhatia lowered the firm’s price target on Klarna (KLAR) to $46 from $51 and keeps a Buy rating on the shares following the company’s inaugural earnings print as a public company. Klarna delivered “a solid quarter” with Q3 metrics and a Q4 outlook ahead of Street expectations, notes the analyst, who views the results “positively.” The firm adjusts its FY25 and FY26 loss per share estimates to account for Q3 results and commentary and applies a slightly lower gross profit multiple to arrive at its revised price target the analyst noted.