Paytm Share Price | Paytm shares came under pressure on Tuesday, September 15, even as global brokerages Jefferies and Bernstein maintained a bullish outlook on the fintech company.
Shares of One97 Communications, Paytm’s parent company, fell 2.28% to Rs 1,766.20 in morning trade on September 15, according to reports.
Jefferies has retained its Buy rating on Paytm and raised its price target to Rs 2,100 from Rs 1,600. The revised target followed higher earnings estimates for the company.
Jefferies expects Paytm to benefit from stronger monetisation and potential changes in the Merchant Discount Rate (MDR) framework for UPI transactions. The brokerage has also identified Paytm among financial companies capable of delivering strong operating profit growth over the next three years.
Paytm Share Price | Bernstein sees Paytm as top stock pick
Bernstein has also maintained a positive view on Paytm and named it a top pick. The brokerage retained its Outperform rating with a target price of Rs 2,200. Based on the reference price used in its report, the target indicated around 26% to 27% upside.
Bernstein highlighted merchant lending growth, operating leverage and the potential introduction of MDR on UPI as key drivers for Paytm’s earnings.
The brokerage expects Paytm’s revenue to grow at a 24% compound annual growth rate between FY26 and FY30. It also expects significant improvement in EBITDA as operating leverage strengthens.
However, brokerage targets represent analysts’ estimates and can change with business performance, valuations and market conditions. Investors should assess the company’s financials and risks before making any investment decision.
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