2308 GMT - Australian buy-now-pay-later operator Zip may have benefited from the same strong U.S. demand cited by rival Sezzle, Citi analyst Siraj Ahmed reckons. Sezzle upgraded its revenue guidance on what it called "exceptional holiday demand," and Ahmed thinks that Zip could beat the average analyst forecast of A$153 million in second-quarter cash earnings. As well as U.S. growth, he points to weakness in the Australian dollar, which should boost the power of U.S.-generated revenue, and an expectation that Zip can contain its U.S. bad debts. Citi has a neutral rating and A$3.15 target price on the stock, which is at A$2.81 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 18:09 ET (23:09 GMT)
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