Shares of Lenskart Solutions Ltd were up nearly 2% on Friday, Nov 28, trading at ₹415, gaining ₹7.30 in early trade. The stock moved higher after Jefferies initiated coverage with a ‘Buy’ rating and set a target price of ₹500 per share.
The brokerage called Lenskart India’s largest tech-driven eyewear retailer, noting that the company currently holds around 5% market share, offering strong long-term growth potential. Jefferies highlighted that Lenskart’s vertically integrated omni-channel model supports cost efficiency, faster delivery, and an improved customer experience.
According to Jefferies, India contributes more than 85% of Lenskart’s EBITDA, while the international business continues to provide additional upside. The report added that Lenskart’s strong unit economics and quick store-level paybacks could drive over 50% adjusted EBITDA CAGR between FY25 and FY28.
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