BOB Capital starts LG Electronics India at 'buy'

LG Electronics India

23/09/2026 04:58

    ** BOB Capital initiates LG Electronics India  LGEL.NS  at
"buy" with PT of 1,980 rupees, citing market leadership, strong
brand recall and improving distribution reach
    ** Brokerage expects LGEL to outperform industry growth over
next three years, helped by new product launches and wider
distribution 
    ** Forecasts revenue, EBITDA and profit CAGR of 13%, 23% and
20%, respectively, over FY26-FY29
    ** Says increased localisation and in-house component
production should improve cost control and support margins amid
higher commodity costs
    ** Expects exports and business-to-business operations to
reduce dependence on seasonal domestic appliance demand
    ** Shares of LGEL up 0.33% at 1,668.60 rupees
    ** LGEL rated "buy" on average by 27 analysts, median PT at
1,918 rupees -- LSEG-compiled data
    ** YTD, stock up 9.68%

    (Reporting by Surbhi Misra in Bengaluru)
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