Brokerage firm JM Financial has reaffirmed its positive view on payments major Paytm, stating that the company continues its "track record of delivering better-than-expected profits for another quarter."
JM Financial Institutional Securities has reiterated its Buy rating on Paytm and raised the 12-month target price to Rs 1,420 from Rs 1,320, citing continued profitability, higher operating leverage and improved efficiency across the fintech's businesses.
Recently, other top brokerage firms such as JP Morgan, Morgan Stanley, Goldman Sachs, Dolat Analysis and Research Themes, and CITI extended their confidence in Paytm's strong performance with 'Buy' ratings.