India's Meesho rises as Jefferies initiates coverage with 'buy'
BUZZ-India's Meesho rises as Jefferies initiates coverage with 'buy' ** Shares of e-commerce platform Meesho MEES.NS rise about 4% to 173 rupees
** Stock on track for biggest percentage gain since May 13
** Jefferies initiates coverage with "buy" rating; PT at 225 rupees, which is the second-highest on the street after Axis Capital's 226 rupees
** Notes company's focus on price-sensitive customers in largely non-metro regions sets it apart from brand-heavy peers
** Says Meesho's GMV and NMV growth, supported by its discovery-led, zero-commission model, and logistics-led cost advantage with rising monetisation options, will boost margin expansion and profitability over the medium term
** 5 of 11 brokerages rate MEES "buy" or higher, median PT 200 rupees - LSEG-compiled data
** YTD, stock down about 4%
(Reporting by Saikeerthi in Bengaluru)
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