Macquarie initiates ‘Underperform’ rating on Meesho, sees 25% downside. Here’s why
Macquarie has initiated coverage on shares of e-commerce platform Meesho with an ‘Underperform’ rating, citing concerns that declining order values are weighing on the company’s unit economics despite strong order growth and a focus on free cash flow generation. It set a target price of Rs 125 per share for Meesho, implying a downside potential…