Kotak Initiates Meesho With 'Reduce' at Rs 195 TP; Crompton Gets TP Hikes on Wires Push
Kotak starts Meesho at Reduce (TP Rs 195), flagging that 264M ATCs and a projected 28% NMV CAGR through FY26-29 are already priced in, with EBITDA breakeven only by FY29. Meanwhile, Jefferies (Rs 330) and Citi (Rs 400) raised Crompton Consumer TPs after its new wires brand launch in Tamil Nadu and Karnataka.
What happened
Kotak initiated Meesho with Reduce at TP Rs 195, citing 264M ATCs and 28% NMV CAGR but positives priced in. Jefferies and Citi raised Crompton Consumer TPs on
Key facts
- Meesho TP Rs 195
- 264 million ATCs
- 28% NMV CAGR FY26-29
- EBITDA breakeven by FY29
- Crompton TP Rs 330 (Jefferies)
- Crompton TP Rs 400 (Citi)
Why this matters
Crompton's adjacency play into wires is unlocking street re-rating, signaling that category extensions in distribution-rich consumer franchises remain a high-leverage M&A and partnership lane.