HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion plan
HSBC sees just 2% upside on Lenskart at a Rs 513 target, flagging full valuation even as it praises the eyewear player's integrated manufacturing-retail moat, sub-year store payback and 20% organised-segment share. The brand plans to scale from 2,500 to 7,000 stores in a market growing 13% annually.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong growth. It projects expansion to 7,000 stores from 2,500, praising Lenskart's integrated manufacturing-retail moat, sub-year store payback, and 20% organised-eyewear share.