Citi initiates Meesho at Buy with Rs 210 target, sees 22% upside on value-commerce play
Citi initiated coverage on Meesho with a Buy rating and Rs 210 target price, implying 22% upside. Thesis hinges on marketplace model, affordability-led positioning, AI and vernacular tech investments, and a projected ~27% GMV CAGR through FY29 as Meesho deepens reach into non-metro value-conscious shoppers across a Rs 19 trillion TAM.
Citi initiated Buy on Meesho with Rs 210 target (22% upside), citing its marketplace model, affordability focus, AI/vernacular tech investments, and projected 27% GMV CAGR through FY29 as it taps non-metro value-conscious consumers.