Meesho is well placed to benefit from India's rapidly expanding value-commerce market and could deliver a 34% upside from current levels, according to a new initiation report by Jefferies, which has started coverage on the company with a "Buy" rating and a target price of Rs 225.
The brokerage said Meesho has built a distinct position in Indian e-commerce by targeting price-conscious consumers, particularly in smaller cities and towns, through a discovery-led marketplace focused on affordability.
