HSBC initiates 'Hold' on Lenskart at Rs 513 target despite 7,000-store expansion runway
HSBC flags full valuation with only ~2% upside even as it backs Lenskart's growth story: India's largest eyewear player could scale from 2,500 to ~7,000 stores, aided by an integrated model, sub-1-year payback and 13% annual market growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong growth. Sees India's largest eyewear player expanding from 2,500 to ~7,000 stores, backed by integrated model and organised-retail adoption.