Paytm shares up 3% as Bernstein’s target price hints at 25% upside
Foreign brokerage Bernstein has reiterated its Outperform rating on One 97 Communications Ltd, also known as Paytm, setting a target price of Rs 1,100. This represents a potential upside of approximately 25 per cent from current levels. Bernstein highlights several near-term catalysts that could drive this upward momentum.
The brokerage anticipates non-linear EPS growth, with Paytm’s current revenue lines projected to grow at a compound annual growth rate (CAGR) of around 20 per cent. Indirect expenses are expected to be contained at a 10 per cent CAGR, translating to an estimated EPS of Rs 70 by FY30E, which supports the target price.
Following the development, the stock rose 3.33 per cent to hit a high of Rs 893.50 on BSE. The scrip…
