Jefferies lifts PT, double-upgrades Australia's Zip to 'buy' after strong FY results

** Analysts at Jefferies upgrade Australia's Zip Co ZIP.AX to "buy" from "underperform;" increase PT to A$4.40/shr from A$2.10/shr

** Buy now, pay later services provider reported more than double increase in FY cash EBTDA to A$170.3 mln ($110.54 mln) on Friday

** Co's U.S. business delivered 41.6% growth in total transaction volume (TTV); considering a dual listing on Nasdaq

** In our view, a U.S. listing makes sense given U.S. TTV contribution - Jefferies

** Brokerage increases FY26-28 cash EBTDA estimates by 18-36%, adjusting for stronger-than-forecast U.S. customer growth and factoring in FY26 guidance

** Stock up 26.7% YTD, as of last close

($1 = 1.5406 Australian dollars)