ICICI Securities gives Lenskart buy rating with ₹750 target
Business
Lenskart just got a buy rating from ICICI Securities, with a target price set at ₹750.
The stock has already jumped over 50% since its debut, mostly thanks to steady performance.
Analysts say the real challenge now is keeping up this momentum and proving the company deserves its premium price tag.
Lenskart India revenue 23% annually
ICICI Securities expects Lenskart's India revenue to grow about 23% each year till FY31, driven by more stores (a 2.7x increase) and stronger sales at existing locations (18% same-store growth).
Plus, as the company gets bigger, it should see profits (EBITDA) rise even faster, around 37% annually.
Their valuation comes from a 3-stage DCF, with a 10.5% WACC and 5% terminal growth rate.