Morgan Stanley initiates Lenskart coverage, sees 10% upside to ₹445 target

• Morgan Stanley initiated coverage on Lenskart Solutions with an 'Equal-Weight' rating and a target price of ₹445 per share.
• The target price indicates a potential upside of approximately 10% from the previous closing price of ₹405.95.
• Morgan Stanley believes Lenskart has a distinct business model and the potential to emerge as a global eyewear leader.
• Lenskart's stock, listed on November 10, 2023, is currently trading about 0.5% above its IPO price of ₹402.
• In Q2 FY25-26, Lenskart's profit rose 20% year-on-year to ₹103.5 crore, with operational revenue increasing 21% to ₹2,096 crore.

Why It Matters: Morgan Stanley predicts Lenskart could be a global leader, targeting 10% stock growth.