Meesho shares have gained nearly 19% so far in 2026, but CLSA believes the stock’s valuation already reflects overly optimistic expectations for advertising revenue, order growth and logistics savings.
The company's shares have gained 18.76% year to date, outperforming the Nifty 500, which has declined 3.90% over the same period. Despite the rally, CLSA maintained its Underperform rating and target price of Rs 150. The target implies a 29% downside from its previous close of Rs 210.30.
