ICICI Direct has given Hold recommendation for Dixon Technologies with a target price of Rs. 4730 in its research report issued on Oct 23, 2022
ICICI Direct’s research report on Dixon Technologies
Dixon Technologies is India’s leading electronic manufacturing (EMS) provider and one of the largest beneficiaries of the government’s PLI scheme. Dixon operates in both original equipment manufacturing (OEM) and original design manufacturing (ODM) • Strong RoE, RoCE at ~20%, ~24%, respectively (three year’s average).
We revise our rating from BUY to HOLD. We value Dixon at 55x P/E on FY24E EPS with revised target price of Rs 4730/share.