HSBC Initiates ‘Hold’ on Lenskart at Rs 513 Target Despite 7,000-Store Expansion Plan
HSBC sees limited 2% upside for Lenskart even as the eyewear retailer eyes tripling its footprint from 2,500 to 7,000 stores, backed by sub-1-year payback periods and a fast-growing organised eyewear market.
HSBC initiates ‘Hold’ on Lenskart with Rs 513 target, citing strong fundamentals and 7,000-store expansion potential but limited valuation upside.