Brokerage firms Morgan Stanley and Goldman Sachs initiated coverage on Paytm.
Morgan Stanley has initiated coverage on Paytm with an ‘overweight’ rating and a target price of Rs 1,875 per share. The firm seems the company expanding rapidly into financial services at low incremental cost going ahead.
Goldman Sachs, however, has ‘neutral’ rating on the stock with a target price of Rs 1,630 per share. The firm expects the total addressable market (TAMs) to grow at a compounded annual growth rate (CAGR) of over 20 percent over the next five years.
Watch the accompanying video of CNBC-TV18’s Abhishek Kothari for more details.