HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion plan
HSBC flags stretched valuation—only ~2% upside to its Rs 513 target—even as Lenskart backs strong store economics, a plan to nearly triple its footprint from ~2,500 to 7,000 stores, and ~20% share of an organised eyewear market growing 13% annually.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing stretched valuation despite strong fundamentals, a 7,000-store expansion plan, 20% organised eyewear share, and robust store economics across domestic and international markets.