stocks in focus: paytm

Paytm shifts focus to higher-ticket size loans and recalibrates Buy Now, Pay Later (BNPL) business, reducing small-ticket loans below ₹50,000.

Goldman Sachs downgrades Paytm from 'buy' to 'neutral,' significantly cuts price target from ₹1,250 to ₹840.

Jefferies maintains 'buy' recommendation, slashes price target from ₹1,300 to ₹1,050. Acknowledges Paytm's BNPL recalibration and predicts a reduction in BNPL disbursals, focusing on high-ticket loans.

Bernstein expresses concerns over Paytm's strategy shift. Maintains 'outperform' but reduces price target from ₹1,100 to ₹950.

Morgan Stanley maintains 'equal-weight' on Paytm, citing near-term drop in disbursement, expects limited earnings impact with higher-ticket loans scaling up. Retains price target at ₹830.

Paytm's share price crashes 20% at the start of trade following the announcements, hitting the lower circuit and extending losses from the previous session.