New Delhi, Nov. 13 -- Global brokerage firm Jefferies has reaffirmed its bullish stance on One 97 Communications Ltd (Paytm), maintaining its BUY rating while raising the target price to Rs.1,600 from Rs.1,420.

The firm said it was encouraged by "healthy core growth" and "rising option value across wealth, lending and international segments," adding that Paytm remains its "preferred pick among fintechs."

Jefferies added that Paytm is "at an inflection point to scale-up new segments that will leverage its distribution and customer base." It pointed to emerging opportunities in wealth products such as digital gold, mutual funds, margin trading facility, equity broking, lending products like postpaid, and early-stage international expansio...