Daily Price Movement / General Discussion, page-27374

been watching this for a while ready to grab some then saw this from UBS dated yesterday with target reduced to $5.40 might explain some of the selling.GLTA

0046 GMT - Zip Co.'s FY 2021 results highlighted the costs required to achieve the buy-now-pay-later provider's significant top-line growth, UBS says. The investment bank says the impact of administration expenses including marketing costs resulted in cash earnings of A$22.9 million, compared with the A$17.0 million expected by UBS. Zip's top-line outlook and management strategy are viewed positively by UBS but FY 2022 will be a year of consolidation requiring reinvestment. It cuts its FY 2022 cash earnings forecast by 45% to A$55 million, driving a 3.6% cut in its target price to A$5.40. UBS maintains a sell rating on the stock, which is down 0.1% at A$6.89. ([email protected]; @StuartLCondie)