以扩大服务和增加利润为驱动力的Paytm的强劲增长赢得了Jefferies的“Buy”评分和更高的价格目标。 Paytm’s strong growth, driven by expanding services and improving profits, earns a "Buy" rating and higher price target from Jefferies.

Paytm 显示出强劲的增长势头，杰富瑞维持其“买入”评级，并将其目标价上调至 1,420 卢比，较截至 2025 年 9 月 22 日的当前股价约 1,197 卢比上涨 21%。 Paytm is showing strong growth momentum, with Jefferies maintaining its "Buy" rating and raising its price target to Rs 1,420, a 21% upside from the current stock price of around Rs 1,197 as of September 22, 2025. Paytm的4500万商基, 恢复了大约7500万消费者基础, 扩大了金融服务, 包括贷款、Post-Payd-on-UPI及财富管理等。 The brokerage highlights Paytm’s 45 million merchant base, recovering consumer base of approximately 75 million, and expanding financial services including lending, Postpaid-on-UPI, and wealth management. 收入的提高、成本削减和运营效率正在推动盈利能力，预计 EBITDA 将从 25 财年的 150 亿卢比亏损转变为 27 财年的 120 亿卢比利润。 Improved revenues, cost-cutting, and operational efficiency are driving profitability, with EBITDA projected to turn from a Rs 15 billion loss in FY25 to a Rs 12 billion profit by FY27. Jefferies预测,在付款和金融服务的推动下,25至28财政年度的年收入增长将增加24%,预计EBITDA的利润率到28财政年度将达到15%。 Jefferies forecasts 24% compound annual revenue growth from FY25 to FY28, driven by payments and financial services, and expects EBITDA margins to reach 15% by FY28. 该公司指出Paytm在金融普惠和数据隐私方面的作用, The firm cites potential upside from scaling Postpaid-on-UPI and regulatory developments, while noting Paytm’s role in financial inclusion and data privacy.