Paytm on track of profitability, says Emkay Global; upgrades stock to ‘Add’, hikes target price by 100%

Paytm share price jumped over 3% on Tuesday after the company received ratings upgrade from a domestic brokerage firm. Paytm shares gained as much as 3.30% to ₹673.05 apiece on the BSE.

Emkay Global Financial Services upgraded its rating on One 97 Communications, the parent company of fintech giant Paytm, to ‘Add’ from ‘Reduce’, while raising its DCF-based target price by 100% to ₹750 per share from ₹375 earlier. Paytm share price target implies an upside of over 15% from Monday’s closing price.