This hidden opportunity could power Lenskart’s next big leap, says BofA

BofA Securities initiated coverage on Lenskart Solutions with a ‘Buy’ rating and a price objective of Rs 575, indicating an upside of 10%. The brokerage cited the company’s ability to address India’s large unmet vision correction needs through a vertically integrated and technology-enabled business model.

The brokerage said prescription eyewear remains significantly underpenetrated in India, with around half the population requiring vision correction but only about 35% of those people using prescription eyewear. BofA said Lenskart’s integrated operations across design, manufacturing, supply chain and omnichannel retail help address structural constraints that have historically limited category growth.