Lenskart stock: broker targets up to ₹650 in 2026

What moved Lenskart shares

Shares of eyewear retailer Lenskart Solutions traded higher across multiple sessions as fresh brokerage notes pointed to improving profitability and sustained growth momentum. The stock was seen at different levels in intraday trade, including ₹525.35 (up 1.23%) after touching ₹528.1 early morning. In another update, shares were quoted around ₹495 at 9:35 AM, and in a separate session the stock rose 2.3% intraday to a high of ₹493, trading at ₹491.75 at 9:37 AM. One sharp move cited the stock up 12.46% at ₹524.45 at 9:32 AM, versus a previous close of ₹466.35.

The brokerage commentary also came alongside references to a block deal in the stock, though transaction details were not provided in the material shared. The common thread across the notes was that multiple firms see room for upside from recent closing levels, with targets mostly clustered around the ₹575–₹625 zone, and some calls extending higher.

Macquarie reiterates Outperform, lifts target to ₹600

Macquarie reiterated an "Outperform" rating and raised its target price on Lenskart to ₹600 per share, citing sustained growth momentum and improving profitability. The revised target implied an upside of about 19% from Wednesday’s closing price.

Macquarie also said growth tailwinds seen over the last two quarters appear sustainable. It projected an EBITDA compound annual growth rate (CAGR) of more than 35% between FY26 and FY29.

CLSA initiates coverage with Outperform, target ₹604

CLSA initiated coverage on Lenskart with an "outperform" rating and a target price of ₹604 per share. The target implied an upside potential of about 17% from Monday’s closing price.

Following the initiation note, Lenskart shares rose on Tuesday. The stock was trading at ₹525.35, up 1.23%, after rising as much as ₹528.1 in early morning trade, according to the details provided.

Emkay stays Buy after Q4, raises target to ₹625

After the company’s Q4 results, Emkay Global Financial Services maintained a "Buy" rating and revised its target price up by 4% from ₹600 to ₹625. The brokerage note linked the call to a Q4 performance that was described as a beat, with the headline also referencing a 7% surge after results.

The target of ₹625 implied an upside of 28% from Wednesday’s closing price of ₹486.85. In the same trading context, the stock was reported at around ₹495 at 9:35 AM, up about 1.5%.

Q4 profitability metrics highlighted in brokerage notes

The broker commentary included specific profitability figures. EBITDA climbed 55.3% year-on-year to ₹1,789 crore, while adjusted PAT surged 148% year-on-year to ₹530 crore.

Some brokerages framed these figures as evidence of improving unit economics and margin progression, without providing a full income statement in the supplied text. Goldman Sachs, for instance, cited a Q4 revenue beat of around 5% versus estimates and referred to a profitability inflection point.

Jefferies: base case ₹600, with ₹675 upside scenario

Jefferies maintained a "Buy" call and increased its target price by more than 4% to ₹600 per share in its base case scenario. The note said the target implied an upside potential of more than 23% from the previous closing price of ₹486.85 on NSE.

Jefferies also laid out a scenario range. In its upside scenario, it saw Lenskart shares rallying over 37% to ₹675 per share, while its downside scenario assumed a fall of 19% to ₹400. Separately, Jefferies said it expects about 45% plus EBITDA CAGR over FY26–FY29E, citing superior unit economics and a faster payback period of stores.

Goldman Sachs, Morgan Stanley and others: targets cluster around ₹576–₹625

Goldman Sachs maintained a "Buy" rating and increased its target price to ₹625 per share, implying an upside potential of more than 28% from the stock’s previous closing price. It also said it raised FY27 and FY28 EPS estimates by around 14% and 9%, respectively.

Morgan Stanley maintained an "Overweight" call with a target price of ₹576 per share, implying an upside potential of more than 18% from the stock’s previous closing price. The note said the focus now is on sustaining growth after another strong quarter.

Motilal Oswal Financial reiterated a "Buy" call and increased its target price to ₹650 per share, as cited in the material.

Motilal Oswal initiates coverage with ₹600 and lays out bull and bear cases

In a separate initiation note, Motilal Oswal Financial Services (MOFSL) started coverage on Lenskart with a "Buy" rating and a target price of ₹600 per share, citing a superior growth profile, limited organised competition, and a long growth runway. The initiation target implied a 24.5% upside from the previous close at ₹481.7.

For India, MOFSL expects 27% pro forma revenue CAGR over FY25–FY28 led by volume growth and accelerated store additions. It also projected Lenskart’s India market share rising to 8.3% by FY30 from 5% in FY25.

MOFSL additionally outlined a bull-case valuation of ₹735 and a bear-case scenario of ₹395, depending on execution outcomes.

JM Financial raises 12-month target to ₹565

JM Financial retained its "Buy" rating and raised its 12-month target price to ₹565 per share from ₹535. The update was cited alongside a session where the stock was sharply higher intraday.

Key data points from brokerage notes

Scenario ranges flagged by brokerages

Market context: mixed target snapshots and where the stock traded

The supplied material also contained a separate market snapshot citing an "average estimate" comparison and a mix of targets across brokerages. In that snapshot, Axis Capital was cited at ₹580, Jefferies and IIFL at ₹575, JM Financial at ₹565, and Morgan Stanley at ₹561. The same note said Emkay and Macquarie both land on ₹550, while Ambit Capital carried a sell rating with a target of ₹389.

That set of figures sits alongside other targets cited in the same overall material, including Emkay at ₹625 and Macquarie at ₹600. Readers typically need to check the date and context of each brokerage note, because targets can be revised after earnings, initiation reports, or changes to base assumptions.

A separate data point also pegged Lenskart’s market capitalisation at ₹85,043.34 crore when the stock was trading 1.76% higher at ₹490 per share on BSE at 2:38 pm.

Why these brokerage calls matter

Across broker notes, the focus remained on growth sustainability and profitability improvement, with multiple firms flagging EBITDA growth expectations into FY26–FY29. The biggest difference between targets appears to stem from varying assumptions on margin trajectory, store expansion payback, and execution consistency across India and international markets, as referenced in the Jefferies and MOFSL commentary.

The Q4 metrics highlighted in the material, including EBITDA of ₹1,789 crore and adjusted PAT of ₹530 crore, also served as a key anchor for analysts arguing that operating leverage is improving. At the same time, the presence of bull and bear scenarios from brokerages underscores that outcomes can vary meaningfully based on execution.

Conclusion

Lenskart Solutions remained in focus after multiple brokerages reiterated bullish ratings or initiated coverage, with targets largely ranging from ₹576 to ₹650 and scenario bands extending from about ₹395 to ₹735. The next set of cues for the stock will likely come from further earnings updates, any additional brokerage revisions, and how the company sustains growth and profitability trends referenced in recent notes.