How brokerages view Zomato, Paytm after Rs 2,048-crore deal

How brokerages view Zomato, Paytm after Rs 2,048-crore deal

Sandeep Singh

Aug 22,2024

How brokerages view Zomato, Paytm after Rs 2,048-crore deal

Do you have new age stocks like Paytm and Zomato in your portfolio? Here's how analysts see Zomato's move to acquire Paytm's entertainment ticketing business in an all-cash deal. 

Jefferies maintains 'buy' on Zomato

The brokerage raised its target to Rs 335 from Rs 275 after the news. 

What Jefferies says

The brokerage believes that the valuation looks compelling in the context of growth forecast and ultimate margins. 

Bernstein maintains 'buy' on Zomato

The brokerage kept a target of Rs 275 after the news. 

Bernstein maintains 'buy' on Zomato

The acquisition will expand Zomato's total addressable market (TAM) into the event ticketing business., according to the brokerage.

Nomura retains 'buy' on Zomato 

The brokerage continued with its target of Rs 280 after the news. 

Citi maintains 'sell' on Paytm 

The brokerage, however, raised its target for the stock to Rs 440 from Rs 410 after the news. 

UBS maintains 'neutral' on Paytm

The brokerage kept its target of Rs 490 for the stock after the news. 

What UBS says 

The said business accounted for 4% of Paytm's FY24 net revenues and 5% of adjusted EBITDA, according to the brokerage. 

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