Dolat Capital recommended accumulate rating on Dixon Technologies with a target price of Rs 3430 in its research report dated August 07, 2018.
Dolat Capital's research report on Dixon Technologies
Q1, though disappointing on revenues, was in line at an operating and PAT level. While the electronics business faced cost pressures, it was negated by higher margins in lighting, which was almost entirely LED. Management has maintained a 25% revenue growth for FY19.
We maintain our Accumulate rating for the stock, valuing it at 33x for FY20E at TP of `.3,430.
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