Paytm gets target price hikes from BofA, JM Financial as UPI monetisation expected to boost earnings

Mumbai (Maharashtra) [India], August 13 (ANI): Global brokerages Bank of America Securities and JM Financial have raised their price targets on Paytm, saying the potential monetisation of UPI merchant payments through the application of a Merchant Discount Rate (MDR) could boost revenues and open up a new earnings stream for the fintech company, while its underlying business momentum remains strong.

BofA Global Research raised its price objective on Paytm to ₹1,775 from ₹1,560 and reiterated its Buy rating, describing the company as a “key beneficiary” from a potential MDR on select UPI transactions. JM Financial also maintained its Buy rating and increased its target price to ₹1,950 from ₹1,500.