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 price, implying only ~2% upside, on full valuation. It flags the eyewear player's integrated moat, sub-one-year store payback and ~20% organised market share, with plans to grow from ~2,500 to ~7,000 India stores.
HSBC initiated Lenskart coverage with a 'Hold' and Rs 513 target, citing full valuation. It praises Lenskart's integrated eyewear moat, sub-year store payback and plans to expand from 2,500 to ~7,000 India stores.
Why this matters
HSBC's cautious 'Hold' contrasts with JPMorgan's Overweight and Rs 635 target, splitting the Street on Lenskart even as the eyewear retailer draws heavy analyst attention near its 52-week high.
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