An American Investment Bank Published on Paytm Gave A Target of Rs 1875 for Stock
An American investment bank is bullish on Paytm. Paytm’s listing in the stock market was weak. Now American investment bank Morgan Stanley has started coverage of Paytm and has given it an overweight rating. Morgan Stanley has given a target price of Rs 1,875 for Paytm stock, which is 43 per cent higher than Tuesday’s closing level. Paytm shares had a sharp fall at the beginning of the week.
Macquarie gave underperform rating to Paytm stock
Analysts, including Sumit Kariwala, wrote in a note on Tuesday that Paytm’s profitability should improve rapidly as financial services grow. The company will hit breakeven at operating profit level in FY2025. American investment bank Morgan Stanley has a completely different approach to that of Macquarie Group and Goldman Sachs. The Macquarie Group underperformed Paytm stock and Goldman Sachs gave a neutral rating on the stock.
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This brokerage house has given a target price of Rs 2500
Talking about India-based brokers, Daulat Capital Markets Pvt, earlier this month, gave a buy rating to Paytm and has set a target price of Rs 2,500. Morgan Stanley and Goldman Sachs are among the bankers to the stock issue of Paytm. Paytm’s parent company One97 Communications Ltd has raised $2.5 billion in its IPO. On November 18, the day of listing, Paytm’s stock had fallen 27 per cent. At present, Paytm stock is down nearly 39 per cent from its issue price of Rs 2,150.