Paytm: Foreign brokerages divided on road ahead for the stock

While those at Goldman Sachs have upgraded the stock to buy with a target price of Rs 1,460, analysts at Macquarie maintain an underperform rating with a 12-month target price of Rs 700 on the counter

Foreign brokerages remain divided on the road ahead for Paytm’s stock and the performance of the company in the backdrop of recently announced results for the quarter ended December 2021 (Q3-FY22).

While Goldman Sachs has upgraded Paytm to ‘buy’ with a target price of Rs 1,460 – up around 56 per cent from the current levels (Rs 1,600 earlier) citing a favourable risk-reward following the December 2021 (Q3FY21) results, those at Macquarie have cut the target price to Rs 700 – down around 25 per cent from here.

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