Klarna ticks higher as Wall Street rolls out coverage on the “buy now, pay later” giant

Shares of Klarna jumped as much as 6.5% Monday morning in early trading after a wave of analysts initiated coverage on the “buy now, pay later” giant, as the so-called post-IPO “quiet period” came to an end.

The Stockholm-based fintech company, which competes with Affirm and Afterpay, has 111 million active users and partnerships with over 790,000 merchants worldwide. Analysts highlighted Klarna’s rapid US growth, improving profitability, and ongoing BNPL adoption as reasons for optimism.

Here’s where analysts netted out:

Bank of America — Rating: Buy | Price target: $58
Citigroup — Rating: Buy | Price target: $58
Deutsche Bank — Rating: Buy | Price target: $48
BNP Paribas — Rating: Neutral | Price target: $46
UBS — Rating: Buy | Price target: $48
Goldman Sachs — Rating: Buy | Price target: $55

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J. Edward Moreno2h

CDC signs off on narrower Covid shot recommendation

Moderna slipped after the US Centers for Disease Control and Prevention announced on Monday that it is adopting a narrower recommendation for when COVID-19 booster shots are appropriate.

The CDC’s recommendation aligns with what its advisory committee voted for last month, which was for a healthcare provider to sign off on each individual immunization. While that is much narrower than the broad backing of the shot, it’s less draconian than some investors previously priced in.

Moderna rises after RFK Jr. vaccine panel’s less-draconian-than-expected Covid recommendation

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Sony shares climb to their highest level in 25 years as Abenomics supporter Sanae Takaichi is likely to become Japanese PM

Shares of Sony rose 4% on Monday, sending the stock up to levels it last reached in March of 2000.

The move was even more impressive in its home listing, where the stock outperformed with a 4.75% jump on Japan’s Nikkei 225 that propelled that index to a record high on Monday.

Boosting the market was the victory of Shinzo Abe protege Sanae Takaichi in a race to lead Japan’s ruling political party, setting the lawmaker up to become the country’s first female prime minister. Takaichi, a hard-line conservative who claims Margaret Thatcher as a personal hero, advocates for “Abenomics”: higher spending and tax cuts. Takaichi previously described the Bank of Japan’s recent interest rate hikes as “stupid.”

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Don’t have a cow

In bad news for protein-hungry Americans, beef is more expensive than ever

Meat-packing giants, meanwhile, are benefiting from beefier prices.

Luke Kawa

Plug Power’s ascent continues as the AI boom may finally be what makes its business profitable

Plug Power investors have something more real to dream on this time.

Illustration of man balancing crowd of people on seesaw

America’s top 1% now holds nearly a third of household wealth

Stock market rallies have added trillions to the fortunes of the wealthiest people in the US.

Hyunsoo Rim3h

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