Paytm: Why Goldman Sachs sees 22% upside potential after RBI cancels PPBL license
The share price of One97 Communications, the parent of Paytm saw a sharp reaction to the RBI scrapping the banking licence for Paytm Payments Bank. However, global brokerage house Goldman Sachs has rated the stock a ‘Buy’with a target price of Rs 1,400. This translates to a potential upside of about 22% from current levels.
According to the Goldman Sachs report, while recent developments linked to Paytm Payments Bank Limited (PPBL) have raised questions, the core business of Paytm continues to show steady traction, especially in payments and merchant growth.
