Klarna initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Klarna (KLAR) with an Overweight rating and $50 price target The firm says Klarna is a “fintech pioneer that has grown into an international financing and commerce powerhouse.” The company is expanding in the United States while scaling into more profitable, longer duration loans, the analyst tells investors in a research note. JPMorgan points out the shares trade at a “healthy discount” to primary peer Affirm (AFRM).