0401 GMT - Australian payments provider Zip regains its bull at Citi on a share selloff that analyst Siraj Ahmed says was overdone. Ahmed raises his recommendation to buy from neutral, reversing the switch he made back in October, telling clients in a note that Zip looks well-placed to resume revenue growth in Australia and New Zealand operating over the fiscal second half. He also thinks that operating expenses should moderate over the period after a season peak in the second quarter. Citi cuts its target price on the stock 9.1% to A$3.00. Shares are up 0.2% at A$2.445. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 23:02 ET (04:02 GMT)
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