Jefferies Upgrades Paytm to ‘Buy’; Stock Up 3.5% After Q1 Results

Jefferies raised its target price for Paytm to INR 1,250 per share from INR 900 before, an upside of 19% from the previous closing price

Jefferies projected that Paytm’s EBITDA margin could improve from –22% in FY25 to +9% in FY27 and 14% in FY28

Jefferies is also expecting 24% net revenue CAGR growth in Paytm over FY25-28E, driven by a 32% growth in financial services and 24% growth in payment services

Brokerage firm Jefferies has upgraded its rating on Paytm from ‘hold’ to ‘buy’, raising its target…