HSBC Initiates Hold Rating on Lenskart with Target Price of Rs 513 8 days ago
HSBC has initiated coverage on Lenskart with a Hold rating and Rs 513 target price, recognizing the company's strong D2C backward-integrated business model and TAM expansion strategy. The brokerage projects robust growth with 23% revenue CAGR and 49% EBITDA CAGR, indicating margin improvements. However, premium valuations compared to retail and platform peers limit upside potential, leading to the neutral Hold recommendation despite strong fundamentals.