2311 GMT - Zip's bull at Citi sees the Australian buy-now-pay-later provider's net bad debts as a key focus point at next month's first-half result announcement. Analyst Siraj Ahmed tells clients in a note that bad debts probably rose over the December quarter, albeit at a lower sequential pace than in the prior three-month period. The key question in his mind is how much of the rise is due to new users--who typically default more than established users--and how much is because of deteriorating underlying consumer conditions in the U.S. December's record monthly app downloads and user numbers indicate continued positive momentum in the U.S., he adds. Citi keeps a "buy" rating on the stock and trims its target price 4.4%, to A$4.30. Shares are up 1.6%, at A$3.13. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

January 15, 2026 18:12 ET (23:12 GMT)

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