HSBC initiates ‘Hold’ on Lenskart with Rs 513 target despite 7,000-store expansion plan
HSBC starts coverage at Hold with a Rs 513 target implying just ~2% upside, flagging rich valuation even as Lenskart eyes ~7,000 stores from 2,500 today. The bank cites a strong integrated-model moat, 20% organised eyewear share, 13% annual market growth and sub-1-year store payback.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing rich valuation despite strong store-expansion plans to ~7,000 outlets from 2,500, integrated model moat, 20% organised eyewear share, and attractive unit economics.