HSBC Initiates 'Hold' on Lenskart at Rs 513 as Valuation Caps Upside Despite 7,000-Store Push
HSBC sees only ~2% upside on Lenskart, citing stretched valuation even as the eyewear retailer targets expansion from ~2,500 to 7,000 India stores. Analysts flag the integrated manufacturing-retail moat, ~20% organised segment share, ~13% annual market growth, and sub-1-year store payback as long-term strengths.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing stretched valuation despite plans to expand from ~2,500 to ~7,000 India stores, 20% organised eyewear share, and an integrated manufacturing-retail moat.