Meesho Shares Dip 3% as BofA Sec Initiates 'Neutral' Rating with ₹190 Target

• Meesho shares fell 3% on Monday, January 12, following a 3% rise on Friday and three prior sessions of decline.
• BofA Securities initiated coverage with a 'Neutral' rating and a price target of ₹190 per share.
• BofA projects Meesho's NMV to grow at a 26% CAGR (FY26-FY29) and adjusted EBITDA margin to turn positive (+3% by FY29).
• Key growth drivers include market share gains, fintech business scale-up, and grocery segment expansion.
• Despite recent correction, Meesho shares are up nearly 50% from IPO price but down 35% from post-listing peak.

Why It Matters: Meesho shares continue to fall despite BofA's 'Neutral' rating, though long-term growth is projected.