Investment bank Jefferies has initiated coverage on Paytm with a buy rating and a target price of Rs 1,300. The bank is convinced that Paytm will become a profitable fintech globally in the next four quarters. Paytm s stock has already risen 80% this year and is expected to continue growing with strong revenue growth, double-digit EBITDA margins, and stable profitability. Jefferies expects Paytm to turn profitable by the third quarter of FY25 and generate sustained growth in accounting profits thereafter.
Goldman Sachs has revised Paytm’s target price to Rs 1,250 a share, implying a 34 percent upside from the closing price of October 13. Paytm could be the most profitable of Indian internet firms, the brokerage and research firm has said
Sound of money: Fintech startups are in the race for soundbox domination yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
India Business News: "Our loan distribution business (in partnership with our lender partners) continues to gain scale with disbursements of Rs 10,710 crore ($1.3 billion,