Paytm shares: Another brokerage gives ‘Buy’ tag with over 64% upside target
Domestic Brokerage and Research Companies Icici Securities has started coverage in Paytm stocks with a purchase ranking. Paytm shares, which made the stock market debut in November last year, fell around 48% since the list and had decreased by around 39% in 2022 (year-to-date or YTD) so far in the middle of a series of views of judgment on assessment issues.
“Paytm called for evaluations and assessments that are very different and clear, especially those provided: high management of management growth for significant investment and cash payments, a rapidly growing business model (leadership that is proven in payment but monetizes through financial services, very competitive landscaping with costs Low switching and leading players with bags into aggressively, “said the broker stated.
The purchase of buying brokers on Paytm shares is equipped with target prices ₹ 1,352 respectively, implying reversed potential of more than 64% of the current level. Although, under the monetization expected through the financial services business and unprofitable regulatory results to act as a major risk, according to the broker Furthermore, regulatory uncertainty with several conducive initiatives and some unfavorable results including revisions on charges of payment instruments, vigilance on digital loans etc., ICICI Securities highlighted.
Earlier this month, the data compiled by Bloomberg suggested that buying recommendations on one 97 Communications Ltd., Paytm operator, exceeded the selling amount in the first week of February, since the list was gloomy. However, the shift analyst sentiment can provide a little comfort for investors who have seen Paytm shares lose more than half of their value since the list For the end of the third quarter of December 2021, Paytm posted a consolidated loss of up to ₹ 778.5 Crore in the December 2021 quarter, wide of ₹ 535.5 crore in the quarter last year. In fact, consolidated revenue from operations increased by around 88% to ₹ 1,456 Crore from ₹ 772 Crore year to year (yoy).
The views and recommendations made above are individual analysts or broking companies, and not from mint.