HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion roadmap
HSBC praises Lenskart's integrated model and store economics (payback under 1 year) but sees only ~2% upside at current valuation. The brand holds 20% organised market share and could scale to 7,000 India stores from 2,500 today, riding 13% annual market growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong fundamentals. It praises Lenskart's integrated model and sees potential expansion to 7,000 India stores from 2,500 currently.