Choice Institutional Equities: Buy Meesho, Target INR 200

• Choice Institutional Equities recommends "Buy" for Meesho with a target price of INR 200, indicating an 81.7% upside.
• India's retail market is projected to grow significantly, with organized retail and e-commerce penetration increasing, especially in underpenetrated categories.
• Meesho is positioned to capitalize on this growth through its zero-commission, low-AOV, discovery-led platform targeting Tier-2/3 users.
• The company is expected to achieve a 31% FY25–28E revenue CAGR, driven by value-commerce penetration and logistics efficiencies.
• Meesho's monetization strategies include ads, fintech, and fulfillment, leveraging its deep long-tail and content-led demand.

Why It Matters: This recommends buying Meesho stock with a target price of Rs 200.