Zip's Demonstration of Cost Control Appeals to Bull -- Market Talk

Dow Jones10-30

0518 GMT - Zip's flat 1Q operating expenses is seen by its bull at Jefferies as a sign that the Australian installment-payment provider should have control of its costs through the medium- and long-term. Analyst Roger Samuel says it's positive that Zip lifted total transaction value by 23% on a year earlier, while holding operating expenses at a similar level to those seen in the prior two quarters. Zip's U.S. growth is very strong and the company should get a further boost from its partnership with Stripe, he adds. Jefferies lifts its target price 52% to A$3.80 and keeps a buy rating on the stock, which closed 3.2% lower at A$3.02. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 01:18 ET (05:18 GMT)

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