HSBC Initiates 'Hold' on Lenskart at Rs 513 Despite 7,000-Store Expansion Roadmap
HSBC starts coverage with a 'Hold' and Rs 513 target (~2% upside), flagging full valuation even as Lenskart holds ~20% of organised eyewear, plans to scale from ~2,500 to 7,000 stores, and reports sub-year store payback in a market growing ~13% annually.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite its market leadership, integrated moat, sub-year store payback, and potential expansion from ~2,500 to 7,000 stores across India.