HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion plan
HSBC calls Lenskart India's largest eyewear firm with an integrated-model moat, but sees only 2% upside at current valuation. The company plans to nearly triple its India footprint from 2,500 to 7,000 stores, riding a 13% market growth and 20% organised share.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite plans to expand from 2,500 to 7,000 India stores. It calls Lenskart India's largest eyewear firm with an integrated-model moat.