BUZZ — India's Paytm, Pine Labs rise after J.P. Morgan raises target price

* Paytm shares rise 1.1% to 1,782.70 rupees; Pine Labs stock up 3.3% at 190.48 rupees * J.P. Morgan raises PT for PAYT to 2,100 rupees from 1,300 rupees; for PINL to 190 rupees from 145 rupees * Upgrades PAYT rating to "overweight" from "neutral"; PINL unchanged at "neutral" * Says merchant discount rate (MDR) revenue for PAYT across third-party application provider and acquiring payment aggregator segments drives EBITDA/EPS upgrade over FY27-29 * For PINL, an acquiring payment aggregator, MDR benefits drive 9-28% EBITDA/EPS upgrades over FY27-29 - JPM note * On October 15, fee on select UPI transactions above 2,000 rupees made to merchants comes into force * YTD, PAYT up about 38%, PINL down around 21% (Reporting by Vijay Malkar) ((mailto:VijayDattaram.Malkar@thomsonreuters.com;)