From citi... so is the India divest still a go? Thought the bidder had withdrawn.
Citi finds the near-term trends for Zip Co encouraging and cash EBTDA losses are expected to decrease in the second half of FY23.Nevertheless, risks to the balance sheet exist with the potential for proceeds from the divestments of the Indian business to be lower than generally expected.US app downloads in the March quarter were the strongest relative to competitors albeit down -24% quarter on quarter from the seasonal peak in December.Citi also suspects transaction growth will remain affected by lower consumer spending/inflationary pressures and measures to manage customer losses.
ZIP Price at posting:
53.3¢ Sentiment: Hold Disclosure: Held
(20min delay)