Emkay Global upgrades Paytm's parent company target price to Rs 750 and expects EBITDA positivity by Q4 FY25.

Emkay Global has upgraded One 97 Communications, Paytm's parent company, from 'Reduce' to 'Add', raising the target price to Rs 750 per share. The firm anticipates Paytm will achieve EBITDA positivity by Q4 FY25, aided by reduced regulatory pressures and cost optimization. Paytm's profitable loan, brokerage, and insurance businesses contribute to this outlook. Despite a 23.40% decline over the past year, shares have gained significantly in recent months.

September 24, 2024
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