HSBC initiates 'Hold' on Lenskart at Rs 513, flags stretched valuation despite 7,000-store plan
HSBC starts coverage with a 'Hold' and Rs 513 target implying ~2% upside, citing rich valuation even as Lenskart eyes expansion from ~2,500 to ~7,000 India stores. It points to strong store economics, an integrated model and ~20% organised eyewear share against a ~13% annual market growth backdrop.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing stretched valuation despite plans to expand from ~2,500 to ~7,000 India stores, strong store economics, integrated model and 20% organised eyewear share.