MUMBAI - UBS Securities has initiated coverage on Paytm, one of India's leading digital payment platforms, with a 'Buy' rating and a target price of INR 900. This bullish stance is backed by the firm's projection that Paytm will achieve EBITDA breakeven by the fiscal year 2025. Additionally, UBS forecasts that Paytm will experience a compound annual growth rate (CAGR) in revenue of approximately 21% from the fiscal year 2024 to 2028.
The positive outlook from UBS Securities has resonated with investors, as reflected in Paytm's shares reaching a 4% intraday high today.
Paytm, which has become a household name in India for digital transactions, is expected to capitalize on the growing trend of online payments and financial services in the country.
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