Jefferies initiates Meesho at Buy with ₹225 target, sees 34% upside on value-commerce play

Jefferies began coverage on Meesho with a Buy rating and ₹225 target price, driving a 5% stock jump. The brokerage projects 25% NMV CAGR through FY30, FCF positivity by FY28, and 3% adjusted EBITDA margin by FY30, citing its MSME seller network and asset-light logistics model.

— Source publishedWed, 10 Jun, 2026, 12:56 IST·First seen Wed, 10 Jun, 2026, 12:59 IST·Source Mint · Markets

What happened

Jefferies initiated coverage on Meesho with a Buy rating and ₹225 target, citing its value-commerce platform, MSME seller network, asset-light logistics, and

Key facts

  • ₹225 target
  • 34% upside
  • 5% stock jump
  • 25% NMV CAGR FY26-FY30
  • 3% adj EBITDA margin by FY30
  • FCF positive by FY28

Why this matters

Meesho's coverage initiation re-rates Indian value-commerce assets—revisit comp tables for any horizontal marketplace or MSME-logistics target before pricing tightens.