Citi initiates coverage on Paytm with buy rating; says valuations attractive, downside risks priced in—check target price
Global brokerage firm Citi was bullish on the shares of One 97 Communications (Paytm), saying the online payment solution provider firm has been witnessing steady improvement in payments monetization and scaling up financial services rapidly
"The stock has declined materially from its IPO price of Rs2,150/sh, partly in line with fintech sector de-rating in the last six months."