HSBC's Hold call on Lenskart resurfaces, eyewear retailer's 7,000-store India target back in focus
Resurfacing HSBC's April 2026 move: the bank set a Rs 513 target price for Lenskart, implying about 2% upside, saying much of its growth is priced in. The retailer has roughly 2,500 stores and sees a long-term path to 7,000, supported by sub-one-year store payback and omnichannel operations.
HSBC initiated Lenskart at Hold with a Rs 513 target, saying valuation captures much of its growth. It expects expansion toward 7,000 Indian stores, supported by strong unit economics, integrated supply chain, omnichannel services and a 13% annual eyewear-market growth outlook.
Why this matters
The signal extends recent coverage of HSBC's April Hold call and Lenskart's India network runway from roughly 2,500 to 7,000 stores, pairing expansion potential with HSBC's view that much of the growth is priced in.
Store-opening is steady, with 1,709 signals in the past 90 days; no QoQ figure was provided.