Citi has initiated coverage on Meesho with a Buy rating and Rs 210 target, citing strong user growth, deep penetration beyond metros, and improving monetisation. The brokerage expects robust NMV expansion and margin gains, driven by advertising and logistics execution, even as average order values decline modestly.
Citi has initiated coverage on Meesho with a 'Buy' rating and set a target price of Rs 210. The brokerage highlights strong user growth, deep market penetration beyond major cities, and improving monetisation as key drivers. They anticipate robust Net Merchandising Value…
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