Goldman Sachs reiterates buy call on Paytm, sees 60% upside

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Goldman Sachs issued a report giving a big thumbs up to PayTM. In fact Goldman Sachs has given PayTM a target price of 1100 a share. Paytm reacted positively to the news and was in the green in trade today. The note comes in even on the back of GS acknowledging that the 1 year lock-in for some of Paytm investors and 86% of Paytm shares ends in November. GS believes margins will improve and Paytm will move more towards being a full fledged financial services company. In relative terms, GS believes Paytm trades at a discount amongst other tech peers.



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