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Jefferies initiates buy on LG Electronics shares with Rs 1,980 target price

Jefferies has initiated coverage on LG Electronics India with a Buy rating and a target price of Rs 1,980, implying a 21% upside. The brokerage sees strong rerating potential as the stock trades 1015% below peers like Blue Star and Havells. Its bullish view is supported by LGELs market leadership, superior margins, and capacity expansion plans to capitalise on rising demand.