2335 GMT - Zip's bulls at UBS aren't worried about that softening macroeconomic conditions will impede the Australia-listed payment provider. With an unchanged buy rating on the stock, analysts Lucy Huand and Ailsa Lei tell clients in a note that investor worries are overdone given the buy-now-pay-later provider's exposure to U.S. nondiscretionary spending. In fact, they think a weaker backdrop could be a catalyst for growth for installment-payment providers "as consumers consider nontraditional cash-flow management tools over traditional credit". UBS trims its target price 6.4% to 4.40 Australian dollars. Shares are up 3.9% at A$2.245.
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