HSBC starts Lenskart at 'Hold' with Rs 513 target despite 7,000-store expansion runway
HSBC initiated coverage on Lenskart with a 'Hold' rating and Rs 513 target, implying just 2% upside. It calls Lenskart India's largest eyewear player with strong unit economics and a sub-1-year payback, targeting 7,000 stores from 2,500 today, but says current valuation already prices in the growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, calling it India's largest eyewear company with strong store economics and potential to expand to 7,000 stores, but says current valuation already prices in growth.