Jefferies initiates Buy on Meesho with Rs 225 target, flagging 34% upside
Jefferies starts Meesho at Buy with a Rs 225 target, citing a value-commerce moat across 26.4cr annual users and 250cr orders. House models 25% NMV CAGR and 3% adj Ebitda margin by FY30, helped by asset-light Valmo logistics, negative working capital and FCF turning positive by FY28.
Jefferies initiates Buy on Meesho with Rs 225 target (34% upside), forecasting 25% NMV CAGR and 3% adj Ebitda margin by FY30, citing value-commerce moat, asset-light logistics, negative working capital and FCF positive by FY28.