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, flagging rich valuation even as it praises Lenskart's integrated model and under-1-year store payback. The brokerage sees expansion to ~7,000 stores from ~2,500 amid 13% annual eyewear market growth and 20% organised share.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing rich valuation despite strong growth. It praises the integrated model and store economics, projecting expansion to ~7,000 stores from 2,500 amid 13% annual eyewear market growth.