Australia's Zip Co recoups losses after Jefferies ups rating to 'buy'

Zip Co

20/02/2026 24:21

Updates

** Shares of Australia's buy-now, pay-later firm Zip Co ZIP.AX rise 4.9% to A$1.94

     ** Jefferies upgrades stock to "buy"; says 34.4% slump on Thursday was overdone and sees dip as a buying opportunity

** Result on Thursday reflects evolving U.S. portfolio; but ZIP has control over portfolio composition and has a good handle on unit economics — Jefferies

** Co announces on-market share buyback of up to A$50 million ($35.28 million) on Friday

 ** However, brokerage lowers PT on stock to A$4.20 from A$5, citing higher weighted average cost of capital

** Nine analysts rate the stock "buy" or higher; median PT is A$4.88 — data compiled by LSEG

** Stock last up 0.5% with YTD losses of more than 40%

($1 = 1.4172 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com))