​Brokerages initiate coverage on LG Electronics, Fractal Analytics, Hitachi, 5 other stocks with up to 55% upside. Do you own any?​

A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as AI, home appliances, and insurance. Analysts are bullish on major names such as Hitachi and LG Electronics and forecast strong upside from current market levels. Here is a list of 8 stocks on which brokerages initiated coverage this week.

Goldman Sachs initiated coverage on the stock with a Buy rating and a target price of Rs 1,750 (10% upside). The brokerage highlighted the company’s leadership across key categories and its strong premium positioning, which it believes will drive faster-than-industry growth amid rising incomes and increasing product penetration.

Prabhudas Lilladher initiated coverage on India's first pure-play AI company, recommending a target of Rs 1,260 (55% upside). It said Fractal is a differentiated play in the fast-evolving enterprise AI landscape, highlighting its transition from a pure analytics services provider to an AI platform-led company. "Fractal's two operating segments, Fractal.ai and Fractal Alpha, together offer a blend of core AI services and incubation of next-generation AI ventures," it said.

Geojit Investments Ltd initiated coverage on Amber with a Buy rating and a target price of Rs 9,156 (15% upside), valuing the stock at 43x FY28E EPS. It expects the company to continue gaining market share in the RAC segment, while expansion in the high-margin PCB business and ongoing backward integration initiatives should enhance earnings visibility and margin profile. The stock is currently trading at a one-year forward P/E of 55x, close to the +1 standard deviation band.

Nomura initiated coverage with Buy call and a target price of Rs 1,600 (26.5%). The rationale is supported by low-cost iron ore assets to 2057, vertical integration into steel, predictable mine development and operations (MDO) earnings, and diversification into copper. LMEL is transitioning from a pure-play miner to a more stable, diversified and less cyclical business model. “We estimate LMEL will generate consolidated EBITDA of ~INR109bn by FY28F vs INR19bn in FY25, implying a 77% CAGR.”

Antique initiated with Buy and a target of Rs 190 (30% upside). It has emerged as one of the fastest growing private life insurance companies with FY15-25 and YTDFY26 individual WPI CAGR of 21% and 20% respectively vs industry growth of 10-11%. The company’s individual WPI market share rose from 1.6% in FY15 to 2.9% in YTDFY26. It expects to sustain industry leading growth in the medium term given significant penetration scope in both its key bancassurance partners Canara Bank and HSBC, and via setting up a new agency channel.

Ambit, with a target price of Rs 4,600 (19% upside), initiated coverage with a Buy rating. With the increase of renewable energy in the mix, grid stabilization solutions have to accelerate given the intermittent nature of RE. The market could start accelerating from FY27 as it is more of a requirement than a choice.

Ambit, with a Buy call and a target of Rs 28,500 (12.2% upside), said that with increasing capex and focus on localization, it expects India’s contribution in the global market to increase. India is a low-cost base with no quality difference. "We estimate export growth to outperform domestic market (ex HVDC) and expect 12% CAGR in export orders, with export contribution reaching 30% (FY28). With services now a separate business unit, we expect acceleration in services, forming over 10% of total orders (vs 6-7% now).”

PL Capital, with a Buy call and target of Rs 1,375 (17% upside) said affordable housing players have seen a sharp de-rating over the past year due to slower growth and asset quality challenges. However, its unique technology-focused model, lean operations and strong execution capability grant a premium valuation vs. peers (FY28E P/ABV of 2.3x vs. 1.6x for AAVAS). While near-term RoE is suppressed due to recent capital raise (QIP of Rs12.5bn in Apr’25) and high capital adequacy (48.6% Tier 1 ratio), it expects it to expand to 14% by FY28E with RoA of 3.5% (earnings CAGR of 24% over FY25-28E).