HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion runway
HSBC sees only ~2% upside, citing valuation that already prices in growth. Lenskart holds ~20% organised eyewear share and could scale from ~2,500 to ~7,000 India stores over time, with store payback under a year and 13% annual market growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing valuation already reflecting growth. Lenskart holds ~20% organised eyewear share and could expand from ~2,500 to ~7,000 India stores over time.
Why this matters
HSBC's cautious 'Hold' lands as Lenskart squares off against Titan EyeCare in India's Rs 30,000 crore eyewear market post-IPO, testing whether its growth runway justifies rich valuations.
Retail-company signals are accelerating, up +488200% QoQ.