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BUZZ-Australia's Zip set for best year ever on strong US ops, earnings

ReutersDec 31, 2024 12:17 AM

** Shares of Australia's Zip ZIP.AX set for their strongest year ever

** Stock on track to gain about 370% in 2024, two years after its weakest year

** Stock, however, near 70% below its record level of 2021 at the height of buy now-pay later era

** Shares rally after co's U.S. operations continue to take market share

** ZIP gained nearly 16% in late January after an upbeat quarterly report and improved HY forecast

** Citi hiked its PT and also gave a "buy" rating in March for the stock on likely market growth in the U.S.

** ZIP further raised A$217 mln ($134.87 mln) in July, which analysts remained positive on

** ZIP climbed to over a two-and-half-year high in October after a bumped HY profit

** ZIP currently trading at A$2.96

($1 = 1.6090 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))

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