0439 GMT - Zip's bull at Ord Minnett raises earnings forecasts for the Australian payments provider despite macro-economic worries having driven its recent share price decline. Analyst Phillip Chippindale tells clients that the installment platform operator's 3Q result contained almost all good news, with U.S. demand driving a 9% beat to his total-transaction value forecast. He continues to see a strong medium-term growth outlook, with U.S. consumers' use of buy-now-pay-later services still relatively low. Ord Minnett trims its target price by 17% to A$3.00 amid the deteriorating U.S. economic outlook, but keeps a buy rating on the stock. Shares are down 2.6% at A$1.675. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 17, 2025 00:39 ET (04:39 GMT)
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