Citi hikes Australia's Zip target price on US growth prospects

Citi sees continued growth for BNPL firm Zip ZIP.AX in U.S. as new products Pay in 8, Pay in Z, and Zip Card expected to drive customer spending

Brokerage raises PT by 3% to A$3.10, retains "buy" rating

Citi also lifts FY cash EBTDA forecast to A$162 mln ($105.24 mln) after co on Wed raised FY25 forecast for cash EBITDA to at least A$160 mln

Zip trading 0.2% at A$2.685 on Thur

Stock rated "buy" on avg; median PT A$3.2 - data compiled by LSEG

YTD, stock down 9.5%

($1 = 1.5394 Australian dollars)