Citi opens Meesho at Buy, Rs 210 target; stock jumps 7%
Citi initiates coverage on Meesho with a Buy and Rs 210 target, implying 22% upside from Rs 172.35. The call leans on a marketplace-only model, deepening tier-2/3 reach, and a projected 27% GMV CAGR through FY29, valuing the stock at 50x FY29 EV/EBITDA.
Meesho shares jumped 7% after Citi initiated coverage with a Buy and Rs 210 target, citing its marketplace-only model, tier-2/3 reach, and projected 27% GMV CAGR through FY29 in India's e-commerce market.
Why this matters
Citi's bullish Rs 210 call contrasts with Morgan Stanley's cautious Rs 190 stance, signaling a Street split on Meesho's value-commerce moat and tier-2/3 GMV runway.
Retail-company coverage holding steady with 3,503 signals over the past 90 days.