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 ~2% upside, citing limited near-term headroom even as Lenskart targets ~7,000 India stores from ~2,500 today. Brokerage flags the brand's ~20% organised eyewear share, integrated model moat, and sub-year store payback.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing limited upside despite a planned expansion to ~7,000 India stores from ~2,500, its 20% organised eyewear share, integrated model moat, and strong store economics.
Why this matters
First major brokerage rating follows Lenskart's market debut at ₹69,967 crore after a 28.3x-subscribed IPO, signalling tempered expectations despite aggressive store expansion ambitions.
Retail-company signals accelerating, up +419700% QoQ.