News > Paytm shares crash 9% after Macquarie cuts target price to Rs 275

Paytm shares crash 9% after Macquarie cuts target price to Rs 275

Paytm shares today fell up to 8.7% to day's low at Rs 385.75 on BSE after global broking firm Macquarie downgraded the troubled fintech to underperform from neutral call with a reduced target price of Rs 275 saying that the Vijay Shekhar Sharma-led company is facing a serious risk of customer exodus which significantly jeopardises its monetisation and business model. Our valuation would have been Rs 225 under our earlier methodology, said Macquarie.