Citi sees the third round of stimulus in the US as positive for the BNPL sector as it could support consumer spending.
Independent data for February in the US shows QuadPay continues to see fastest website visit growth and app downloads increase month-on-month, notes the broker. In ANZ during February, the company continues to outperform Afterpay ((APT)).
The Neutral rating and $11.35 target are unchanged.
Sector: Diversified Financials.
Target price is $11.35.Current Price is $8.49. Difference: $2.86 – (brackets indicate current price is over target). If Z1P meets the Citi target it will return approximately 25% (excluding dividends, fees and charges – negative figures indicate an expected loss).