Buy Dixon Technologies; target of Rs 19,578: Anand Rathi

Anand Rathi is bullish on Dixon Technologies has recommended buy rating on the stock with a target price of Rs 19,578 in its research report dated February 04, 2021.

Broker Research

February 11, 2021 / 14:48 IST

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Anand Rathi's research report on Dixon Technologies

The strong rise in Q3 FY20 volumes across categories like LED televisions (up 100%) and mobile phones (up 368%) was supported by a favourable government policy. Volume growth is expected to persist as the pace of customers added in all categories continues (eg, Nokia and Motorola added in Q3). PLI for LED bulbs would also be notified.

Outlook

Based on Dixon’s ability to cater to swelling demand without diluting its balance sheet, we raise our FY22e/23e over ~40% each and our target PE multiple from 40x to 50x. Our revised target now is Rs.19,578.

For all recommendations report, click here

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Broker Research

first published: Feb 11, 2021 02:48 pm

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