LG Electronics hits Rs 1,736 level post listing; more upside ahead? 6 target prices

LG Electronics India Ltd saw its shares hitting a high of Rs 1,736 apiece after listing at Rs 1,715 apiece on Tuesday. At this price, the stock was trading 52.31 per cent higher than the IPO issue price of 1,140. But if one goes by handful of brokerage calls, the stock has potential to see further upside going ahead. 

PL Capital | Target Price: Rs 1,780
PL Capital initiated coverage with a ‘Buy’ rating and a target price of Rs 1,780, valuing the stock at 42 times FY28E earnings. The brokerage highlighted LG’s category leadership, premium brand, diverse product portfolio, and innovation focus, projecting revenue, EBITDA, and PAT CAGRs of 9.9, 10.9, and 9.3 per cent over FY25–28E.

Equirus Capital | Target price: Rs 1,700
Over the years, LG Electronics' tech-led innovation, premium brand positioning, robust in-house manufacturing capabilities, strong global parentage, and extensive distribution network have enabled the company to sustain its pricing power and deliver industry-leading margins. "While some may argue that LG has lost market share in recent years, we view this as a deliberate strategic decision to vacate the mass segment, allowing it to strengthen and maintain leadership within the premium category." 

The target has been breached. 

Antique Stock Broking: Target price: Rs 1,725 

Antique said LG's  backward integration—including in-house manufacturing of critical components like compressors and motors enhances control over product quality, cost structures, and supply chain agility, ensuring timely availability. With low penetration across key categories and a large, expanding TAM, LG Idnia is ideally positioned to benefit from strong tailwinds in consumer discretionary spending, further aided by supportive government policies. Backed by strong financials and exceptional return ratios, LG offers a compelling investment case, it said. 

MOFSL | Target Price: Rs 1,800
MOFSL set a target of Rs 1,800, citing LG’s rising localisation, strong export and B2B presence, and India’s 14 per cent CAGR growth in home appliances and consumer electronics between 2024 and 2029.

ICICI Securities | Target Price: Rs 1,700
ICICI Securities suggested a target of Rs 1,700 on LG Electronics. The brokerage highlighted LG India’s core RoE above 90 per cent, market leadership across white goods, and premiumisation benefits. It expects revenue and PAT CAGRs of 9.3 per cent and 7.9 per cent over FY25–28E, supported by recent GST, income tax, and interest rate cuts.

Emkay Global | Target Price: Rs 2,050
Emkay Global remains the most bullish, assigning a target of Rs 2,050, implying 80 per cent upside. The brokerage expects revenue and EPS to grow at 13 per cent and 14 per cent CAGR over FY26–28, driven by stable margins, strong free cash flow, net cash rising from Rs 3,700 crore in FY25 to Rs 5,000 crore in FY28E, and a 65 per cent dividend payout.