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Goldman Sachs Raises Paytm Target Price To Rs 2070 And Issues Buy Call
- •Global brokerage firm Goldman Sachs maintained a buy rating on One 97 Communications and increased the target price to Rs 2070 per share.
- •The brokerage estimates that UPI MDR could drive up to a 40 percent upgrade in Paytm's EBITDA estimates.
- •Growth avenues for Paytm include postpaid business expansion, potential wallet relaunch, and UPI market share cap opportunities.
- •Paytm shares have surged by over 34 percent in 2026, with the new target price representing a potential upside of about 19.5 percent.
Key Questions Answered
Goldman Sachs maintained its 'Buy' rating on Paytm's parent company, One 97 Communications, and increased its target price to ₹2,070 per share. The new target represents an upside of about 19.5% from the previous session's closing price of ₹1,732.
Goldman Sachs estimates that UPI MDR could drive an EBITDA estimate upgrade of up to 40% for Paytm. Incorporating this into its calculations, the brokerage also raised its EPS estimates by up to 39% as this potential benefit is not yet fully priced into the stock.
Goldman Sachs noted several growth avenues, including postpaid business expansion, a potential wallet relaunch, and opportunities from UPI market share caps. Specifically, the December 2026 deadline for the UPI market share cap is expected to be a significant event impacting Paytm's business and market share.
