HSBC initiates 'Hold' on Lenskart, sees limited upside despite 7,000-store runway
HSBC set a Rs 513 target (~2% upside) on Lenskart, flagging full valuation even as it credits a strong growth story: potential expansion from ~2,500 to ~7,000 India stores, an integrated manufacturing-retail moat, 20% organised eyewear share and store payback under a year in a 13%-a-year market.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong growth. It sees potential to expand from ~2,500 to ~7,000 India stores, backed by an integrated manufacturing-retail moat and 20% organised eyewear share.