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GLOBAL RESEARCH ARCHIVE

PayPay Moving to an Overweight rating and a $21 price target from Not Rated

Published: 2026-06-23Institution: JPMorganCompany / ticker: PAYP.OQPages: 18Original language: 英语Evidence page: 17

Research evidence excerpt

PayPay Moving to an Overweight rating and a $21 price target from Not Rated

City

Center Building, 50th Floor, Ploenchit Road, Lumphini, Pathum Wan, Bangkok 10330.

UK: Research is produced in the UK by J.P. Morgan Securities plc (“JPMS plc”) which is a member of the London Stock Exchange and is

authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority or

J.P. Morgan Markets Limited (“JPMML Ltd”) which is authorised and regulated by the Financial Conduct Authority. Unless specified to the

contrary, this material is distributed in the UK by JPMS plc and is directed in the UK only to: (a) persons having professional experience in

matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) (Order) 2005

(“the FPO”); (b) persons outlined in article 49 of the FPO (high net worth companies, unincorporated associations or partnerships, the trustees of

high value trusts, etc.); or (c) any persons to whom this communication may otherwise lawfully be made; all such persons being referred to as

"UK relevant persons". This material must not be acted on or relied on by persons who are not UK relevant persons. Any investment or

investment activity to which this material relates is only available to UK relevant persons and will be engaged in only with UK relevant persons.

A description of J.P. Morgan EMEA’s policy for prevention and avoidance of conflicts of interest related to the production of Research can be

found at the following link: J.P. Morgan EMEA - Research Independence Policy.

U.S.: J.P. Morgan Securities LLC (“JPMS”) is a member of the NYSE, FINRA, SIPC, and the NFA. JPMorgan Chase Bank, N.A. is a member

of the FDIC.

The English excerpt is extracted automatically from the cited source page and may contain layout or recognition errors. It is never batch translated.

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