New Delhi, Nov. 28 -- Shares of One 97 Communications, the parent company of Paytm, surged 3.4% to Rs.1,325 apiece on Friday, November 28, hitting the day's high of Rs.1,336 apiece as investor sentiment improved after global brokerage firm Goldman Sachs issued an upbeat outlook on the company.

Goldman Sachs turned bullish on Paytm, upgrading its rating on the counter to 'Buy' from 'Neutral' and sharply raising its 12-month target price by 123% to Rs.1,570 apiece from the previous Rs.705 apiece.

In its more bullish outlook, the brokerage sees the stock price reaching Rs.1,870 per share, while in a blue-sky scenario, it anticipates the stock could soar to Rs.2,320 apiece, representing an upside of 79% from its latest closing price.

The b...