Shares of Meesho gained 2% to Rs 175 on the BSE on Tuesday after international brokerage Citi initiated coverage on the stock with a Buy rating and a target price of Rs 210, implying an upside of 23% from current market levels.
The brokerage believes the company is well positioned to capitalise on India's growing e-commerce market, supported by its strong presence beyond Tier-1 cities, extensive long-tail seller network, zero-commission logistics model, and a simplified advertising platform.
