Is it too late to invest? 8/11/2019
One leading broker doesn’t believe it is too late to buy Zip Co’s shares.
According to a note out of UBS, its analysts have taken their sell rating off its shares. Furthermore, they have upgraded their rating all the way up to a buy.
The broker has a price target of $4.80 on its shares, which implies potential upside of approximately 21% over the next 12 months.
It prefers Zip Co to rival Afterpay Touch Group Ltd (ASX: APT), which it is famously very bearish on. This is due to its belief that Zip Co has less exposure to the risks associated with the buy now pay later model.
However, one broker which isn’t as positive is Morgans. Although it appears to be a fan of the company and sees this Amazon deal as a positive, it retains its hold rating on valuation grounds. It notes that Zip Co’s shares have quadrupled in value this year.
THE WHOLE ARTICLE BELOW:
https://au.finance.yahoo.com/news/top-broker-slaps-buy-rating-003811270.html
UBS - CHANGES RATING TO BUY
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 5 | 110725 | $1.77 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 29116 | 4 |
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