HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion plan
HSBC calls Lenskart India's largest eyewear player with an integrated moat, flagging potential to scale from 2,500 to 7,000 stores and sub-1-year store payback. But a Rs 513 target implies only 2% upside, with the 'Hold' reflecting full valuation against a 20% organised share and 13% annual market growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong growth outlook. It calls Lenskart India's largest eyewear player with an integrated moat and potential to scale from 2,500 to 7,000 stores.