Paytm stock hits 52-week high, rises 3% as UBS hikes target to Rs 1,000

UBS on Paytm: Shares of Paytm, owned and operated by One 97 Communications, were in demand on Thursday, November 28, 2024, as the scrip soared up to 2.60 per cent to hit a fresh 52-week high of Rs 942.55 per share.

The rally in Paytm share price followed an update from UBS, a New York-based financial services firm, which raised its target price for the stock to Rs 1,000 from Rs 490, citing that significant improvements have already been factored into the valuation, according to reports. Despite the increased target, UBS maintained a ‘Neutral’ rating on the stock.