Meesho shares jump 12% after J.P. Morgan sets ₹215 target
Business
Meesho's stock jumped 12% on Thursday after J.P. Morgan called it "Overweight" and set a price target of ₹215, over 24% higher than its last close.
The stock even hit ₹196.62 during the day, bouncing back strong after three days in the red.
J.P. Morgan predicts Meesho EBITDA growth
J.P. Morgan likes how Meesho connects buyers and sellers across India, acting as both a marketplace and an ad network with built-in logistics.
They're betting big on Meesho's growth, projecting EBITDA to grow much faster than other internet companies, thanks to its focus on affordable prices and reaching the fragmented retail market in India.