BUZZ-Goldman Sachs starts India's LG Electronics with 'buy'; stock up

Reuters
02/18
BUZZ-Goldman Sachs starts India's <a href="https://laohu8.com/S/LGEIY">LG Electronics</a> with 'buy'; stock up

** LG Electronics LGEL.NS rises 0.17% to 1,553.20 rupees

** Goldman Sachs starts with "buy", PT of 1,750 rupees

** Says rising income levels, increasing demand for premium appliances position co to outpace industry growth

** Sees export growth potential as co expands manufacturing in India

** Adds co's market leadership, brand strength justify premium valuation within consumer durables sector

** Stock rated "buy" on average; median PT at 1,758 rupees, per data compiled by LSEG

** YTD, LGEL gains ~2%

(Reporting by Surbhi Misra in Bengaluru)

((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))

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