HSBC Initiates Lenskart at 'Hold', Rs 513 Target as Valuation Caps Upside
HSBC begins coverage on Lenskart with a 'Hold' rating and Rs 513 target implying just ~2% upside. The bank cites strong fundamentals — ~20% organised segment share, 13% annual market growth, and a runway to 7,000 stores from ~2,500 currently — but flags stretched valuation as the key restraint.
HSBC initiated coverage on Lenskart with a 'Hold' rating and Rs 513 target, citing strong fundamentals and potential to expand to 7,000 stores from 2,500, but flags stretched valuation as the key restraint.