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The Economic Times
The Economic Times
Business
Veer Sharma

Meesho shares rally 12% after UBS hikes target price by 24%. What’s keeping analysts bullish?

Meesho UBS Veer Sharma Economy SEBI

Shares of Meesho rallied as much as 12% to their day’s high of Rs 245 on the BSE on Tuesday after international brokerage firm UBS hiked the target price by 24% to Rs 260, implying an upside of 19% from current levels.

UBS has raised its FY29-31 NMV estimates by 7-18%, with a similar increase in contribution profit estimates and a 20-40% increase in EBITDA estimates. The higher NMV forecasts reflect the continued flywheel effect from seller and buyer growth, with sellers increasing 81% YoY to 1.04 million in Q1FY27 and buyers rising 29% YoY to 274 million. This has been accompanied by a rapid expansion in SKUs and logistics partners.

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