Meesho shares get first rating post listing, analysts see 80% upside from IPO price
Newly listed Meesho received its first analyst rating after a blockbuster listing on Wednesday, with domestic brokerage firm Choice Institutional Equities initiating coverage of the stock with a ‘BUY’ recommendation and a target price of Rs 200.
The target implies an 80.1% upside from the issue price of Rs 111, and a 24% upside from the listing price of Rs 161.20 on the BSE.
A “faster road to profitability” was listed as a key upside trigger.
The rating comes just hours after Meesho made its market debut at a 46% premium over the IPO price. The company is now in focus among institutional and retail investors seeking exposure to the growing value-commerce and Tier-2/Tier-3 digital retail space.
In its initiating note, Choice…
