Tree shake, thanks Jeff...
BUZZ – Jefferies downgrades Zip Co, flags potential share dilution from expansion1 October 2021 5:20 am* Brokerage Jefferies downgrades Australia's Zip Co to "hold" from "buy", flags dilutive effect of share issuance* Jefferies finds the "buy now, pay later" co has a lot of potential shares to be issued to various stakeholders, which could increase shares on issue by 15%* Z1P's global expansion effort appears to be mainly funded by issuance of shares/options, which would be dilutive - brokerage* Brokerage also cuts price target to A$7.43 from A$8.28* Adds larger rival Afterpay's agreement with U.S. retailer Fashion Nova, which is one of Z1P's largest merchants in the country, will limit growth potential for Z1P* Z1P closed at A$7.06 on Thursday, 1.29% higher, but losing 6.74% this quarter* Five of ten analysts rate the stock "buy" or higher, two "hold" and three "sell" or lower; their median PT is A$7.95 – Refinitiv Eikon data* Stock up 33.46% so far this year, as of Thursday's close(Reporting by Harshita Swaminathan in Bengaluru) (([email protected])© 2021 Thomson Reuters. Click for Restrictions.
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Tree shake, thanks Jeff...BUZZ – Jefferies downgrades Zip Co,...
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