0028 GMT - Installment-payment provider Zip's adherence to its annual operating-expense guidance helps keep Jefferies analyst Roger Samuel confident on the stock. Samuel reckons that weakness in second-quarter revenue margins is due to seasonal factors, and points to U.S. consumer resilience and the potential for interest-rate cuts in both Australia and New Zealand as further reasons for his confidence. He tells clients in a note that the market was disappointed in Zip's 18% on-year growth in operating expenses, but observes that the company remains comfortable with its 6%-10% guidance for the full fiscal year. Besides, he says, Zip needs to spend if it is to grow. Jefferies has a buy rating and A$3.80 target price on the stock, which is up 3.7% at A$2.53. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 19:29 ET (00:29 GMT)
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