Kotak Initiates Meesho With 'Reduce' at Rs 195 TP; Crompton Gets TP Hikes on Wires Push
Kotak starts Meesho at Reduce (TP Rs 195), flagging that 264M ATCs and a projected 28% NMV CAGR through FY26-29 are already priced in, with EBITDA breakeven only by FY29. Meanwhile, Jefferies (Rs 330) and Citi (Rs 400) raised Crompton Consumer TPs after its new wires brand launch in Tamil Nadu and Karnataka.
Kotak initiated Meesho with Reduce at TP Rs 195, citing 264M ATCs and 28% NMV CAGR but positives priced in. Jefferies and Citi raised Crompton Consumer TPs on new wires brand launch in Tamil Nadu and Karnataka.