HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion roadmap
HSBC sees full valuation as the near-term ceiling, pegging just ~2% upside at a Rs 513 target. India's largest eyewear player—already ~20% of the organised market with ~2,500 stores—could scale to 7,000 outlets via its integrated retail model, riding 13% annual market growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong fundamentals. It sees Lenskart, India's largest eyewear player, expanding from 2,500 to 7,000 stores via its integrated retail model.