Domestic brokerage Elara Capital initiated coverage on eyewear major Lenskart Solutions with a Buy call and a target price of Rs 615 (22% upside), calling the company a structural compounder given its moat that would be difficult to replicate, making the business resistant to competition.
Further, analysts led by Amit Purohit said the company has built one of India’s most differentiated retail models by creating a full-stack eyewear ecosystem that spans the entire value chain. Analysts believe it is well positioned to mirror the growth trajectory of Titan Company Limited’s jewellery business, steadily compounding market share gains over time and emerging as a category-defining leader in eyewear, much like Tanishq did in the jewellery segment.
