Resurfacing HSBC's April call: Lenskart started at Hold even as it sees room for 7,000 India stores
HSBC's April note initiating coverage with a Rs 513 target, implying about 2% upside, resurfaces now—citing Lenskart's strong store economics and omnichannel model to support expansion from roughly 2,500 stores, but noting valuation limits near-term upside.
HSBC initiated Lenskart at Hold with a Rs 513 target, citing valuation despite strong retail economics. It sees scope to expand India stores from about 2,500 to 7,000, supported by integrated supply chain, omnichannel capabilities and repeat-led demand.