BofA takes a measured view on Meesho’s next phase, starts coverage with 'neutral' rating; stock sheds 5%

BofA Securities has initiated coverage on newly listed Meesho with a Neutral rating and a Rs 190 target, citing advertising and logistics as key monetisation drivers. The brokerage remains cautious on valuation after the post-IPO rally. Meesho shares fell 5% on Monday but still trade well above their IPO price.