Paytm shares jump over 3% as Emkay Global upgrades rating to ‘Add’; Check target price & more details

Shares of One 97 Communications, the parent company of Paytm, gains over 3% to intra-day high of Rs 672.90 on NSE after brokerage firm Emkay Global upgraded the stock’s rating from ‘Reduce’ to ‘Add’ and raised the target price to Rs 750 per share.

Emkay Global’s Upgrade and Outlook

Emkay Global’s upgrade comes with an optimistic outlook for Paytm’s future financial performance. The brokerage firm expects Paytm to turn EBITDA positive (excluding ESOP and UPI incentives) by the fourth quarter of FY25.