Source : AFRCiti upgrades Zip Co on US growth and new product in Australia
Citi has upgraded its rating on Zip Co, as accelerating US growth and the launch of Zip Plus in Australia boosted time to value (TTV) forecasts for the buy now pay later company.Citi noted that on the Australian side TTV was down 7% which reflected the company's focus on reducing costs.
With US TTV growth up 32% year on year in the December quarter, and the launch of Zip Co's new low interest account product Zip Plus in Australia, Citi said it sees upside risk to its TTV forecasts.
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