HSBC initiates 'Hold' on Lenskart at Rs 513 despite 7,000-store expansion roadmap
HSBC begins coverage of Lenskart with a 'Hold' and Rs 513 target (~2% upside), flagging rich valuation even as India's largest eyewear player targets ~7,000 stores from ~2,500 today. It cites 20% organised-market share, 13% annual market growth and sub-1-year store payback.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing rich valuation despite strong growth. It sees Lenskart, India's largest eyewear firm with 20% organised share, scaling to ~7,000 stores from ~2,500 via an integrated retail model.