1 week ago
Meesho, Lenskart Block Deals Draw Focus Amid Mixed Targets
Meesho and Lenskart shares may see activity because of possible block deals.
Goldman Sachs is arranging the Lenskart transaction, while Kotak Securities is handling the Meesho transaction.
Analysts have different opinions about Meesho.
Some recommend buying it, while others say to hold or sell.
Meesho’s average analyst target is Rs 205.77, which suggests no expected increase from its current level.
Analysts are generally more positive about Lenskart.
However, its average target of Rs 672.24 suggests only about 1.6% possible upside.
Individual analyst targets for both companies vary widely.
Goldman Sachs is the sole placing agent for the Lenskart deal.
Kotak Securities is handling the Meesho transaction.
Meesho has eight Buy, three Hold and three Sell ratings, with a Bloomberg consensus target of Rs 205.77.
Lenskart has 18 Buy, three Hold and one Sell rating, with a Bloomberg consensus target of Rs 672.24.
Brokerage targets range from Rs 125 to Rs 240 for Meesho and Rs 496 to Rs 800 for Lenskart.
- Who
- Meesho, Lenskart, their selling shareholders, Goldman Sachs, Kotak Securities and covering brokerages.
- What
- Possible block deals involving Meesho and Lenskart shares, alongside analyst ratings and target prices.
- Where
- When
- Today; the article also cites brokerage updates dated August 5, August 18 and August 21.
- Why
- The transactions could affect trading activity, while differing analyst targets indicate varied views on the companies’ share prices.
Bullish analysts
Cautious or bearish analysts
Meesho outlook
Bullish analysts
Axis Capital and MOFSL rated Meesho Buy, with targets of Rs 230 and Rs 240 respectively.
Cautious or bearish analysts
Macquarie rated Meesho Underperform with a Rs 125 target, while HSBC rated it Hold with a Rs 185 target.
Lenskart outlook
Bullish analysts
Most analysts were positive: Lenskart had 18 Buy ratings, while UBS set the highest target at Rs 800 and ICICI Securities set a Rs 750 target.
Cautious or bearish analysts
Ambit set the lowest Lenskart target at Rs 496, and the Bloomberg consensus implied only 1.6% upside despite the large number of Buy ratings.
Lenskart earnings estimates
Bullish analysts
Equirus Securities raised its pre-IndAS EBITDA estimates for FY27E, FY28E and FY29E by 10-11% and increased its target to Rs 690 from Rs 615.
Cautious or bearish analysts
The article notes that Equirus retained a valuation multiple of 50x March 2028 estimated EV/pre-IndAS EBITDA, while the consensus still indicated limited upside.
Key facts
- Lenskart placing agent
- Goldman Sachs is the sole placing agent.
- Meesho transaction handler
- Kotak Securities is handling the Meesho transaction.
- Meesho ratings
- Eight Buy, three Hold and three Sell ratings.
- Meesho consensus target
- Rs 205.77, implying nil upside potential according to the article.
- Lenskart ratings
- 18 Buy, three Hold and one Sell rating.
- Lenskart consensus target
- Rs 672.24, implying 1.6% potential upside.
- Analyst target ranges
- Meesho: Rs 125 to Rs 240; Lenskart: Rs 496 to Rs 800.
Quotes
Equirus Securities
Brokerage that issued a recent research note on Lenskart
“We upgrade our pre-IndAS EBITDA estimate by 10-11% for FY27E/28E/29E to factor in better sales growth and higher margins in the international business. We maintain Buy with a higher target of Rs 690 (from Rs 615) on March ’28E EV/pre-IndAS EBITDA of 50x (unchanged)”
businesstoday.in
Sources
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