Now Reading: Bernstein lifts Paytm target above IPO price, stock jumps 5%
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Bernstein lifts Paytm target above IPO price, stock jumps 5%
Paytm shares surged nearly 5% in early trade on Monday after Bernstein raised its price target on the stock above the IPO price for the first time. The stock pared some gains…
The Story in Brief
Paytm shares surged nearly 5% in early trade on Monday after Bernstein raised its price target on the stock above the IPO price for the first time. The stock pared some gains to trade 4.12% higher at Rs 1,501 as of 10:02 a.m. IST, even as the Nifty index dipped 0.09%.
Bernstein's revised target marks a turnaround in sentiment for the digital payments company, which had been trading well below its Rs 2,150 IPO price since listing. The brokerage's upgrade signals growing confidence in Paytm's business prospects.
The Indian Opinion
Paytm still has a long climb back to its IPO price, and one brokerage upgrade does not rewrite the stock's turbulent story. The lazy narrative that 'Paytm is back' ignores the regulatory and competitive pressures it still faces. Watch whether other major brokerages follow Bernstein, or if this remains a lonely call in a sea of caution.
Sources (2): ndtvprofit.com, ndtvprofit.com (2)
This story was synthesised by AI from the 2 sources linked above.
