HSBC initiates ‘Hold’ on Lenskart at Rs 513 despite path to 7,000 stores
HSBC starts coverage with a Hold and Rs 513 target (~2% upside), flagging rich valuation even as it backs Lenskart's integrated-model moat, ~20% organised eyewear share and expansion runway from ~2,500 to a potential 7,000 India stores at sub-1-year payback.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing rich valuation despite forecasting strong revenue/EBITDA growth, integrated-model moat, and potential expansion to 7,000 India stores from 2,500 currently.