HSBC initiates 'Hold' on Lenskart, sees only ~2% upside despite 7,000-store roadmap
HSBC set a Rs 513 target on Lenskart, flagging full valuation even as it praises the fundamentals: India's largest eyewear player with 20% organised market share, an integrated-model moat, sub-year store payback, and plans to grow from ~2,500 to 7,000 stores in a market expanding ~13% annually.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong fundamentals—India's largest eyewear player with 20% organised share, integrated model moat, sub-year payback, and plans to expand from 2,500 to 7,000 stores.