HSBC upgrades Lenskart after Q2, lifts international outlook
In short
HSBC upgraded Lenskart after its Q2 results. It said India may still grow in margins, but it now sees the international business as a bigger growth chance, and it kept the India valuation while using a higher multiple for overseas business.
What the reporting says
HSBC upgraded its view on Lenskart after its Q2 results, saying it revised margin-expansion expectations in India and now sees the international business as a larger growth opportunity. The brokerage kept its valuation multiple for India while assigning a higher multiple to the international business.
Why it matters
HSBC upgraded Lenskart after its Q2 results, citing a changed view on margin expansion in India and a larger growth opportunity in international operations. It kept the valuation multiple for India and raised the multiple for the international business.