Australia's Zip set for best year ever on strong US ops, earnings

Zip Co

31/12/2024 24:17

** Shares of Australia's Zip  ZIP.AX  set for their
strongest year ever
    ** Stock on track to gain about 370% in 2024, two years
after its weakest year
    ** Stock, however, near 70% below its record level of 2021
at the height of buy now-pay later era
    ** Shares rally after co's U.S. operations continue to take
market share
    ** ZIP gained nearly 16% in late January after an upbeat
quarterly report and improved HY forecast
    ** Citi hiked its PT and also gave a "buy" rating in March
for the stock on likely market growth in the U.S.
    ** ZIP further raised A$217 mln ($134.87 mln) in July, which
analysts remained positive on
    ** ZIP climbed to over a two-and-half-year high in October
after a bumped HY profit
    ** ZIP currently trading at A$2.96
($1 = 1.6090 Australian dollars)

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ZIP    https://tmsnrt.rs/49Xvuzw
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 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com))