Morgan Stanley upgrades LG Electronics, sharply raises price target
Morgan Stanley upgraded LG Electronics from Equal Weight to Overweight, saying the company and its subsidiary LG Innotek are particularly well positioned for the next phase of the artificial-intelligence rally. LG Electronics shares rose 8.6% following the news. The stock was scheduled to go ex-dividend on Wednesday, according to a note. Morgan Stanley raised its price target for LG Electronics to 260,000 won from 95,000 won. LG Innotek shares rose as much as 7.1%. Morgan Stanley also upgraded LG Innotek from Equal Weight to Overweight and raised its price target to 640,000 won from 265,000 won. The Morgan Stanley analysts wrote in a research note: “We believe beneficiaries of the next phase of the AI rally will expand from semiconductors into smart hardware,” adding that the two companies are well positioned in that area. For LG Display, Morgan Stanley maintained its Equal Weight rating and cut its price target to 10,000 won from 16,800 won.
LG Electronics shares rose 8.6% following the news. The stock was scheduled to go ex-dividend on Wednesday, according to a note.
Morgan Stanley raised its price target for LG Electronics to 260,000 won from 95,000 won. LG Innotek shares rose as much as 7.1%. Morgan Stanley also upgraded LG Innotek from Equal Weight to Overweight and raised its price target to 640,000 won from 265,000 won.
The Morgan Stanley analysts wrote in a research note: “We believe beneficiaries of the next phase of the AI rally will expand from semiconductors into smart hardware,” adding that the two companies are well positioned in that area.
For LG Display, Morgan Stanley maintained its Equal Weight rating and cut its price target to 10,000 won from 16,800 won.