New Delhi, Sept. 23 -- BOB Capital Markets has initiated coverage on LG Electronics India with a 'Buy' rating and a target price of Rs.1,980 per share, implying an upside potential of around 20%. The brokerage has valued the company at 50 times the September 2028 estimated earnings per share (EPS).

According to BOB Capital Markets, LG Electronics India's nearly three-decade presence in the country has helped it establish a strong position across key consumer appliance categories, including inverter air conditioners, automatic washing machines, refrigerators and televisions.

The brokerage expects LG's market leadership to remain intact over the next three years, supported by strong brand recall, premiumisation, an expanding distribution ...