LG Electronics India shares gained around 2% on November 25 after Jefferies initiated coverage on the newly listed stock with a ‘Buy’ rating and a target price implying strong upside potential. The stock, which had been declining for the past two sessions, managed to break its losing streak following the positive brokerage commentary.

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Jefferies Initiates With ‘Buy’; Sees 22.5% Upside Other Global Brokerages Also Bullish Recent Earnings and Market Performance

During Tuesday morning trade, LG Electronics India shares rose to ₹1,648.60 apiece, indicating renewed investor interest backed by fresh analyst coverage.

Jefferies Initiates With ‘Buy’; Sees 22.5% Upside

Jefferies initiated coverage on LG Electronics India with a ‘Buy’ recommendation and set a target price of ₹1,980 per share.
This target implies an upside potential of around 22.5% from the stock’s previous closing price of ₹1,616.40.

The international brokerage described LG Electronics India as a strong beneficiary of rising discretionary consumption in India. Jefferies highlighted the company’s diversified product portfolio, market leadership across categories, premium brand recall, new product launches, and a well-established distribution network as key strengths. It also cited LG’s backward integration, which it believes supports industry-leading margins and strong return ratios.

According to Jefferies’ estimates, LG Electronics India’s sales are expected to grow 13% over FY26–28, while the operating margin is projected to rise to 12.8% by FY28.

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Other Global Brokerages Also Bullish

Jefferies’ call comes shortly after other major global brokerages initiated coverage on the stock.
Last week, both JPMorgan and Morgan Stanley began coverage on LG Electronics India with an ‘Overweight’ rating.

JPMorgan’s target price implies 18% upside
Morgan Stanley’s target price implies 15% upside

Both upside forecasts are measured against November 18’s closing price.

The series of positive assessments from international brokerages indicates growing confidence in the company’s business outlook, competitiveness, and financial performance.

Recent Earnings and Market Performance

LG Electronics India recently announced its quarterly results on November 13, reporting a net profit of ₹390 crore for Q2 FY26. This marks a 27% year-on-year decline compared to the ₹535.7 crore profit posted in the same quarter last year.

Despite the decline, analyst coverage has remained largely positive due to the stock’s long-term prospects and the company’s operational strengths.

Strong Market Debut; Shares Down Since Listing

LG Electronics India made a strong stock market debut on October 14, listing at ₹1,710.10 per share on the NSE, a 50% premium over its IPO price.
Its ₹11,607-crore IPO attracted robust demand during its three days of public bidding from October 7 to October 9, with the issue being subscribed more than 54 times.

Since its listing, however, the stock has fallen by nearly 3%, reflecting profit booking and broader market volatility. The recent analyst upgrades may help stabilise sentiment.

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