JPMorgan initiates Lenskart at Overweight with Rs 635 target; shares near 52-week high
Lenskart rose nearly 3% after JPMorgan began coverage with an Overweight rating and Rs 635 target. The brokerage cites a scalable, profitable model, strong India eyewear demand, premiumisation, Gold membership traction, international growth, and a domestic manufacturing push via the Mingfeng JV. FY26-FY30 EBITDA CAGR seen at 33%.
Lenskart shares rose nearly 3% after JPMorgan initiated Overweight coverage with a Rs 635 target, citing scalable profitable model, India eyewear demand, international growth, premiumisation, Gold members, and domestic manufacturing push via Mingfeng JV.