Shares of One 97 Communications, which owns Paytm, have rallied 21% in the past four days as investors see the worst of the regulatory crisis to be over. Bernstein maintains an Outperform rating with a target price of Rs 600 and expects operational changes to remove dependence on Paytm Payments Bank to have minimal long-term impact. Jefferies has moved Paytm to 'Non Rated' stocks.