Business
Brokers back Afterpay to challenge Klarna in Europe – The Australian Financial Review
Nearly all of Afterpay’s valuation is now built on expectations it will successfully expand overseas rather than grow in the saturated local market.
The move comes just months after Klarna launched in Australia at the same time as Commonwealth Bank made a $US300 million investment into the Swedish group for a 5.5 per cent stake.
Updated views
Leading sell-side bull Morgan Stanley lifted its Afterpay valuation from $101 to $106 and said it’s realistic for Afterpay to trade on an enterprise value (EV) 31 times the broker’s estimate for $927 million in revenue in financial 2021.
Afterpay will have to deliver 78 per cent revenue growth in fin…
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