New Delhi, Sept. 22 -- Paytm is looking bullish, with Jefferies maintaining a "Buy" rating and hiking its price target to Rs 1,420, indicating a 21% upside from current levels. As of today, Paytm's stock price is around Rs 1,197.

Jefferies reaffirmed its confidence in the company. In its latest report, "Upsides From Business & Costs; Raise Ests & Stay with Buy" (September 21, 2025), the brokerage raised estimates and maintained a "Buy" rating with a revised price target of Rs 1,420 -- a 21 per cent upside from the current market price.

Paytm's merchant franchise stands strong with 45 million merchants, and its lending business is performing well. Jefferies pointed to new opportunities in Postpaid-on-UPI and wealth management products. ...