HSBC Initiates 'Hold' on Lenskart at Rs 513, Citing Full Valuation Despite Growth Runway
HSBC sees just ~2% upside on Lenskart with a Rs 513 target, flagging stretched valuation even as it praises the integrated model, sub-year store payback, and room to grow from ~2,500 to 7,000 stores. Organised eyewear holds 20% share in a market growing ~13% annually.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong growth. It praises the integrated model, sub-year store payback, and potential to expand from 2,500 to 7,000 stores across India.