Klarna initiated with a Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn initiated coverage of Klarna (KLAR) with a Neutral rating and $46 price target The company’s growth depends on the success of its U.S. expansion and ramp-up of new products, the analyst tells investors in a research note. The firm sees risks around execution, particularly given the expansion of the longer-term Fair Financing product at a time of concern around the U.S. consumer.