As the company has taken the buy now, pay later business model to the world, its flexible bad debt strategy has put the spotlight on glaring regulatory anomalies.
When Morgan Stanley published a major report this week on the buy now, pay later market darling Afterpay, it whacked a $145 price target on the stock.
The broker said the stock justified this price target, which is 45 per cent higher than Afterpay’s closing price on Thursday of $99.85, because of its likely 70 per cent compound annual growth in revenue out to 2023.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
