Paytm Among BofA Securities’ Top Picks In Asia Pacific For Q1 2024

Paytm Among BofA Securities’ Top Picks In Asia Pacific For Q1 2024

SUMMARY

BofA reiterated its 'buy' rating on Paytm, with a price objective of INR 1,165

The brokerage said that Paytm’s decision to shift focus away from low ticket, low margin loans to high ticket, high margin loans is directionally positive

Meanwhile, brokerage Bernstein expects the BNPL slowdown to have minimal immediate impact and expects Paytm to turn profitable this calendar year

One97 Communications Ltd., the parent company of Paytm, has secured a spot in BofA Securities’ list of top 10 short-term recommendations in the Asia Pacific region for the first quarter of 2024.

The brokerage said that these companies have the most significant market and business-related catalysts in the upcoming quarter. The list comprises eight ‘buy-rated’ stocks and two ‘underperform’ recommendations.

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