2 hrs ago
Lenskart shares rise as brokerages raise target prices
Lenskart’s share price went up after two brokerages gave the company more favorable target prices.
Morgan Stanley raised its estimates for three possible outcomes: bull, base and bear cases.
Motilal Oswal Financial Services kept its Buy recommendation on the stock.
It also increased its target price from Rs 705 to Rs 800.
The brokerage expects Lenskart’s sales and profits to grow strongly over the next few years.
It expects revenue to grow by an average of 27% each year between FY26 and FY29.
Lenskart is also expected to add more stores in India.
The company’s market value reached about Rs 1.20 lakh crore.
Lenskart shares rose 3.54% to Rs 698 from the previous close of Rs 674.
Morgan Stanley raised its bull-case target to Rs 1,154 from Rs 1,048.
Morgan Stanley increased its base-case target to Rs 641 from Rs 600 and bear-case target to Rs 304 from Rs 290.
Motilal Oswal Financial Services retained its Buy rating and raised Lenskart’s target price to Rs 800 from Rs 705.
Motilal Oswal expects Lenskart’s revenue, pre-IND AS EBITDA and adjusted PAT to grow at CAGRs of 27%, 46% and 59% between FY26 and FY29.
- Who
- Lenskart, Morgan Stanley and Motilal Oswal Financial Services.
- What
- Lenskart’s stock rose after brokerages raised their target prices and maintained a positive view of the company.
- Where
- India and Lenskart’s international businesses.
- When
- Today, with forecasts covering FY26 to FY29.
- Why
- The brokerages cited strong earnings momentum, continued consensus-estimate upgrades, higher store additions and operating leverage.
Key facts
- Share price
- Rs 698, up 3.54% from Rs 674.
- Market capitalisation
- Rs 1.20 lakh crore.
- Morgan Stanley bull case
- Rs 1,154, up from Rs 1,048.
- Morgan Stanley base case
- Rs 641, up from Rs 600.
- Morgan Stanley bear case
- Rs 304, up from Rs 290.
- Motilal Oswal target
- Rs 800, up from Rs 705; Buy rating retained.
- Store-network estimate
- 4,500 Indian outlets by FY29, compared with an earlier estimate of 4,300.
Sources
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