Zip's Bull Feels Optimistic About Installment Payments
Dow Jones
Sep 01
0147 GMT - Zip's bull at Jefferies says recent results have left it hard not to feel optimistic about the performance of buy-now-pay-later services as a sector. Analyst Evan Karatzas tells clients in a note that transaction value at Zip, Klarna, Affirm and Sezzle grew by an average 35% in the June quarter. He acknowledges that this represents a slight moderation on some recent periods, but points out that it is well above overall U.S. consumption growth. Zip has gained share of the market in three consecutive quarters and credit quality appears benign, Karatzas adds. Jefferies has a last-published buy rating on the stock and a target price of 3.80 Australian dollars. Shares are up 0.4% at A$2.51.
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