JM Financial ne Meesho Ltd. ki coverage 'Reduce' recommendation ke saath shuru ki hai, kyunki IPO ke baad stock price mein kaafi surge ke baad upside potential seemit hai. Brokerage ne March 2027 ke liye ₹170 ka target price set kiya hai, jo current closing price se sirf 3% badhotri dikhata hai. FY28 ke liye enterprise value to adjusted EBITDA ka multiple lagbhag 108 times hai, jo company ke long-term growth prospects ke hisaab se theek hai. IPO debut ke baad se Meesho ka stock 55% se zyada badha hai, lekin haal hi mein apne listing price ke kareeb aa gaya hai. JM Financial ko ummeed hai ki Meesho India ke e-commerce sector mein dominant player bana rahega. Lekin, current valuations stretched hain. Brokerage ne potential investors ko six-month lock-in period khatam hone ke baad supply badhne ki chetavani di hai. Profitability advertising revenue aur falling logistics costs se badhegi. Company ka asset-light model sellers, buyers, logistics providers ko connect karta hai. Meesho commissions charge nahi karta, balki fulfillment services, advertising, aur data analytics se monetize karta hai. JM Financial ke hisaab se, current price levels par risk-reward anukool nahi hai. Hal hi mein, 7 aur 8 January ko stock 5% lower circuit par band hua tha, GM ke resignation ki khabar ke baad. 7 January ko one-month shareholder lock-in expired hua tha, jisse lagbhag 110 million shares trading ke liye available ho gaye.
JM Financial ne Meesho Stock ko downgrade kiya, IPO ke baad surge mein limited upside ka reason diya
TECH
Overview
JM Financial ne Meesho ko 'Reduce' rating di hai, ₹170 ka target price set kiya hai, jo ki IPO ke baad sharp rally ke baad 3% gain dikhata hai. Brokerage ne naye investors ko supply pressures ke liye warned kiya hai jab six-month lock-in period khatam hoga. JM Financial ne Meesho ke India e-commerce mein important role aur asset-light model ke bawajood valuations ko stretched bataya hai.
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