Lenskart share price: Here's why Morgan Stanley sees 10% upside potential in the newly-listed stock

Lenskart share price

Morgan Stanley has initiated coverage on the shares of Lenskart Solutions with an 'Equal-weight call' and a target price of Rs 445 per share. The international brokerage said that the stock appears to be "fairly valued" at current levels.

The latest target price implies an upside potential of nearly 10 percent from the stock's previous closing price of Rs 405.95 per share. The stock closed nearly 0.5 percent lower at Rs 404 per share on December 15.

Here's what Morgan Stanley said about Lenskart:

Morgan Stanley said that the company is a distinctive play on shifting lifestyle dynamics, and is largely insulated from macro headwinds.

The international brokerage believes that Lenskart has elements to emerge as the EssilorLuxottica (global eyewear leader) from India.

How have Lenskart shares performed since listing?

The stock had listed with a discount on stock markets on November 10. This came despite the Rs 7,278-crore IPO seeing strong investor interest during its three days of public bidding, being subscribed more than 28 times its offer size.

After listing, the stock rose nearly 14 percent to hit a high of Rs 448.80 apiece on December 1. However, the shares of the popular eyewear-retailer have now fallen nearly 10 percent since then.

The stock is currently only 0.5 percent higher than its IPO price of Rs 402 per share.

Lenskart Q2 Results:

Lenskart in November reported a net profit of Rs 103.5 crore for the second quarter of the financial year 2026. This marked a 20 percent year-on-year (YoY) increase from the Rs 86.3 crore net profit reported in the same period of the previous financial year.

Its revenue from operations rose 21 percent YoY to Rs 2,096 crore in Q2 FY26.

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