India, Aug. 26 -- Brokerage firm Bernstein has raised its target price for Paytm's parent entity One97 Communications to INR 1,200 from INR 1,100, while maintaining an 'outperform' rating and describing the stock as a 'long-term' buy.

An NDTV Profit report said that Bernstein remains bullish on Paytm's long-term prospects.

This comes in the wake of regulatory relief for Paytm and its steady profitability, which Bernstein says could unlock strong upside in the coming years.

"While we see limited scope for meaningful earnings or revenue beats versus consensus in the near term, we remain constructive given several catalysts that can drive long-term upside," the firm reportedly said in a note.

The Vijay Shekhar Sharma-led company turned p...