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Paytm wins another fan. Jefferies screams buy with target price of Rs 1,300

Economic Times · 1y

Jefferies has initiated coverage on Paytm with a buy rating and a target price of Rs 1,300, confident that the company will become one of the large profitable fintechs globally in the next four quarters. Paytm's stock has rallied around 80% this year, and Jefferies analysts expect the company to achieve strong growth, double-digit EBITDA margins, and stable profitability. They estimate a target price of Rs 1,300 based on DCF valuation methodology and growth assumptions. Paytm's revenues have tripled in the past two years, and the company is expected to turn profitable by 3QFY25 and generate sustained growth in accounting profits thereafter.