JPMorgan initiates Lenskart at Overweight, targets Rs 635 on premiumisation and operating leverage
JPMorgan starts coverage of eyewear retailer Lenskart with an Overweight rating and Rs 635 target, projecting a 33% EBITDA CAGR through FY30. Growth drivers include rising volumes, premiumisation, Gold-member retention and operating leverage, with international expansion flagged as a second growth engine.
JPMorgan initiates Overweight on eyewear retailer Lenskart with TP Rs 635, citing volume growth, premiumisation, Gold-member retention and operating leverage driving 33% EBITDA CAGR through FY30, with international expansion as a second growth engine.
Why this matters
JPMorgan's Overweight and Rs 635 target contrasts with HSBC's Hold and Rs 513 target, which argued valuation already priced in growth, highlighting a split in analyst conviction as Lenskart pushes its 7,000-store expansion.
Retail-brand signals are accelerating, up 276700% QoQ.