Why JPMorgan Picks PhysicsWallah, Meesho and Three Other Consumer Internet Stocks: Overweight Calls, Targets of Rs 148 and Rs 250, Q2 Results of Peers, and the Gaps I Could Not Fill

JPMorgan picks PhysicsWallah, Meesho and three other consumer internet names as its favourites, with an Overweight rating on each, according to a Zeebiz report on 11 November 2026. The five are PhysicsWallah, Meesho, Billionbrains Garage Ventures (which runs a broking app), Info Edge and Swiggy. This note sets out the targets and ratings I could verify, the results of listed peers, the conflicts in the data and the risks. I could not open the full Zeebiz article, so the reasons for choosing these names over others, and the names left out, are not covered.

Ratings are broker opinions and not facts. Prices can be checked on NSE and BSE. The article's framing is about stocks that suit younger, Gen Z consumers, and that framing comes from its headline and summary only.

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JPMorgan Picks: Ratings and Targets by Stock

Stock	JPMorgan view	Price and target I found
PhysicsWallah	Overweight, target Rs 148	Rs 128 cited, so about 15.6% upside (my arithmetic: 148 divided by 128)
Meesho	Overweight, target Rs 250	Rs 244 cited, so about 2.5% upside (my arithmetic)
JPMorgan picks: billionbrains Garage Ventures	Overweight, target Rs 210 at initiation in March 2026	Current target not found; one report shows Rs 223.65 on 5 November
JPMorgan picks: info Edge	Overweight	No price or target found
JPMorgan picks: swiggy	Overweight; target Rs 360 on 28 September 2026	Zeebiz headline cites 62% return potential; I could not reconcile it

The Meesho upside of 2.5% is small compared with the 15.6% for PhysicsWallah, which shows that Overweight does not mean the same distance to target in every case. For Billionbrains Garage Ventures, one report puts the 5 November close at Rs 223.65 while also giving an intraday high of Rs 216.25, which cannot both be right, and the March target of Rs 210 is below that price. For Swiggy, the Rs 360 target is from a September note and may have changed. I use the Zeebiz figures where I could read them and flag the rest.

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PhysicsWallah: Rating History and Q2 FY27 Results

Item	Detail	Source note
JPMorgan picks: JPMorgan initiation	Overweight with target Rs 125 on 21 April 2026	Business Standard
JPMorgan picks: after Q1 FY27	Reported as an upgrade to Overweight from Neutral, target Rs 148 kept	Entrackr; conflicts with the April Overweight
JPMorgan picks: Q1 FY27	JPMorgan said results beat despite NEET-related disruption; 30% FY27 revenue growth guidance	Entrackr
JPMorgan picks: Q2 FY27 revenue	Rs 1,242 crore, a record	YourStory
JPMorgan picks: Q2 FY27 net profit	About double the year-ago level	YourStory; the figure was not in the snippet I read
JPMorgan picks: brokerage view of the model	Online test prep expected to grow about 29% a year to $6 billion to $6.5 billion by FY30	JPMorgan, via Business Standard

The Entrackr report says JPMorgan upgraded PhysicsWallah to Overweight from Neutral after Q1, while Business Standard reported an Overweight initiation in April, so the stock may have moved between ratings in between or one of the reports is imprecise. Either way, the recent view is Overweight with a Rs 148 target. Other brokerages differ: JM Financial had a Buy with a Rs 140 target, Kotak Institutional Equities had a Reduce with a Rs 125 target.

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Meesho, Peers and the Question of Which Others

Company	Fact	Source note
JPMorgan picks: meesho	JPMorgan initiated Overweight on 30 April 2026 with target Rs 215; the stock rose about 12% that day	Market reports; target now Rs 250 per Zeebiz
JPMorgan picks: meesho price targets elsewhere	Lakshmishree one-year idea of Rs 278; BP Equities technical target Rs 254 with stop loss Rs 205	Other brokers, 4 and 9 November
Nykaa	Q2 FY27 profit about Rs 101 crore, revenue up 28% to Rs 3,006 crore	YourStory
Lenskart	Q2 FY27 profit more than doubled, revenue up 36%	YourStory
JPMorgan picks: loss-making status	Meesho is described as loss-making, so P/E is not meaningful	Lakshmishree note, 4 November

Nykaa and Lenskart also reported strong Q2 numbers, so "over others" cannot be read as the other names being weak. The Zeebiz piece does not name the stocks that were left out in the part I could read, and I could not find the JPMorgan note itself. Consumer internet stocks tend to swing sharply on small changes in growth or margin guidance, so a favourable rating is not the same as low risk.

Checklist and Risks

Investor situation	Questions to consider
JPMorgan picks: existing holder	Is the position size right for a high-volatility, valuation-sensitive sector?
PhysicsWallah: new investor	Have I read the company's Q2 filing and not only the broker headline?
PhysicsWallah: short-term trader	Can I handle a swing on the next guidance or lock-in expiry?
PhysicsWallah: long-term investor	Do competition, losses and valuation fit my time horizon?

The main risks are valuation, competition in quick commerce, e-commerce and test prep, execution on offline expansion, losses at some companies, and the chance that a broker changes its view. A broker rating is an opinion and not an assured outcome. Univest does not recommend any security.

Conclusion

JPMorgan picks five consumer internet stocks as Overweight, including PhysicsWallah with a Rs 148 target and Meesho with a Rs 250 target. The other names left out, and the full reasoning, were not in the sources I could read. Read the original note and consult a SEBI-registered adviser before acting.

Frequently Asked Questions on JPMorgan Picks and PhysicsWallah

Which stocks did JPMorgan pick?

Ans. Zeebiz reports Overweight ratings on PhysicsWallah, Meesho, Billionbrains Garage Ventures, Info Edge and Swiggy. I could not open the full article, so the reasons and any excluded names are not covered here.

What is JPMorgan's target price for PhysicsWallah?

Ans. The reported target is Rs 148 against a cited price of Rs 128, an upside of about 15.6% by my arithmetic. The earlier initiation target in April was Rs 125.

What is JPMorgan's target price for Meesho?

Ans. The reported target is Rs 250 against a cited price of Rs 244, about 2.5% upside by my arithmetic. JPMorgan began with a target of Rs 215 in April 2026.

Why do the rating reports for PhysicsWallah conflict?

Ans. One report says JPMorgan upgraded to Overweight from Neutral after Q1, while another says it initiated at Overweight in April. The stock may have been moved in between, or a report is imprecise.

How did PhysicsWallah do in Q2 FY27?

Ans. YourStory reports record quarterly revenue of Rs 1,242 crore and net profit that roughly doubled.

Are other new-age stocks doing well too?

Ans. Nykaa's profit was about Rs 101 crore on revenue up 28%, and Lenskart's profit more than doubled on revenue up 36% in Q2 FY27, per YourStory. So the picks are not the only strong results.

Why is Billionbrains Garage Ventures mentioned without its app name?

Ans. It is the listed company that runs a broking app. I use its company name, and the price and target data I found for it conflict in places, as noted above.

Should I buy these stocks because JPMorgan likes them?

Ans. Univest does not recommend any security. A broker's Overweight rating is an opinion, so check results, valuation and risk and consult a SEBI-registered adviser.