Buy Dixon Technologies; target of Rs 18700: Sharekhan
Sharekhan is bullish on Dixon Technologies has recommended buy rating on the stock with a target price of Rs 18700 in its research report dated February 02, 2021.
February 09, 2021 / 10:31 PM IST
Sharekhan's research report on Dixon Technologies
Strong performance during Q3FY21 led by strong beat in revenues along with stable margins leading to strong PAT beat. It continued to add new clients and scale up wallet share from existing clients. Macro tailwinds and sharp rise in new business volumes, scaling-up of mobile vertical with approval of PLI scheme and capacity expansions brightens core business’ growth outlook. Capacity expansion in LED TVs, batons, down lighters, and washing machines on track. Upbeat on increasing overall ODM share as the mobile vertical achieves scale.
We retain a Buy rating on Dixon Technologies with a revised PT of Rs. 18700 considering its strong net earnings growth outlook for FY2021E-FY2023E and its strong compounding structural growth story.
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