Paytm’s customer and merchant base underpin long-term profitability: Citi
Paytm’s September quarter performance and expanding payments network have strengthened Citi’s earnings outlook, with financial services emerging as a key growth driver
Citi's analysis of Paytm reveals the company's substantial customer and merchant base, which has created a strong competitive advantage and sets the stage for long-term profitability. Citi's optimism stems from the accelerating growth of Paytm's financial services, alongside improving payment margins, both of which are expected to bolster the company's earnings outlook. The brokerage's October 27 report reiterated its Buy rating on One 97 Communications Limited and raised its target price to ₹1,940 from ₹1,560.
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