Paytm has demonstrated the resilience of its merchant-led business model through sustained growth, cost discipline and improving operating performance, according to global brokerage JP Morgan, which maintained its 'Overweight' rating on the fintech company with a price target of Rs 2,100.
In its latest report titled "First Take: All-round beat", JP Morgan said Paytm's focus on its merchant franchise and sharp cost control following the resolution of regulatory restrictions has helped the company achieve EBIT breakeven, proving the resilience of its merchant-led model.
