Zip Co Ltd (ASX: ZIP) shares dropped sharply last week after the company announced a trading update and are down about 60% over the past 12 months.
The analyst teams at both Macquarie and UBS believe this has created a strong buying opportunity, and have released new research on the company with very bullish share price targets attached.
I’ll get to the specifics of those shortly.
First, let’s have a look at what the company announced.
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Underlying business growing strongly
ZIP last week said its total transaction volume (TTV) for the first quarter grew to $4.6 billion, up 18% on the same quarter the previous year.
Total income was 17% higher at $376.1 million, while net…
