HSBC Starts Lenskart at 'Hold' with Rs 513 Target, Even as Eyewear Chain Eyes 7,000 Stores
HSBC's initiation flags Lenskart's strong fundamentals—20% market share, 13% annual category growth, sub-year store payback—but says the stock's near-3x store expansion plan from 2,500 to 7,000 outlets is already priced in, capping upside at just ~2%.
HSBC initiates 'Hold' on Lenskart with Rs 513 target, citing strong fundamentals and 7,000-store expansion plan but full valuation limiting upside.