Citi initiates Meesho Buy at Rs 210 TP; Investec backs Vishal Mega Mart on 18% revenue CAGR
Brokerage roundup turns constructive on India retail: Citi opens Meesho coverage with Buy (TP Rs 210) on marketplace differentiation, Investec rates Vishal Mega Mart Buy (TP Rs 144) projecting 10% SSSG and 13% store additions driving 18% revenue CAGR through FY26-29. JPM overweight LG India (TP Rs 1620); Jefferies Hold Blue Star (TP Rs 1735) on 25-30% RAC growth.
What happened
Brokerage roundup: Citi initiates Meesho Buy (TP Rs 210) citing marketplace differentiation; Investec initiates Vishal Mega Mart Buy (TP Rs 144) on 18% revenue
Key facts
- Meesho TP Rs 210 buy
- Vishal Mega Mart TP Rs 144 buy
- VMM 10% SSSG, 13% store adds, 18% revenue CAGR FY26-29
- LG India TP Rs 1620
- Blue Star TP Rs 1735
- RAC industry +25-30% YoY Apr-May 2026
Why this matters
With Citi opening Meesho at Rs 210 TP and Investec backing Vishal Mega Mart's 18% CAGR thesis, valuation benchmarks are firming up for any retail M&A or strategic stake conversations across value and digital formats.