Lenskart Shares Jump 7% To Record High As Brokerages Raise Targets
Shares of omnichannel eyewear major Lenskart jumped nearly 7% to an all-time high of ₹627.35 on the BSE today after…
Lenskart's shares surged nearly 7% to a record high of ₹627.35 on the BSE after several brokerages raised their target prices following the company's Q1 FY27 results. However, the stock later retreated to a 2.1% increase at ₹598.95. The rally was driven by brokerages highlighting the company's revenue growth, margin expansion, premiumisation, and improving international business.
Jefferies raised its target price to ₹680, Macquarie to ₹675, Goldman Sachs to ₹715, and Morgan Stanley to ₹666, while Citi and HSBC maintained more cautious stances. Despite higher costs due to currency fluctuations, Lenskart's product margins remained resilient due to premiumisation and increased domestic manufacturing. The company also announced plans for expansion and investment in China and Korea.
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