HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store expansion runway
HSBC flags full valuation on Lenskart, offering just ~2% upside at Rs 513 target. The brokerage acknowledges strong fundamentals: sub-year store payback, 20% organised eyewear share, and 13% annual market growth. Store count could scale from ~2,500 to 7,000 potential.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong fundamentals, sub-year store payback, 20% organised eyewear share, and potential expansion to 7,000 stores from ~2,500 currently.