ICICI Direct has given Buy recommendation for Dixon Technologies with a target price of Rs. 5050 in its research report issued on Jul 28, 2021

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)

Outlook

We maintain our BUY rating on the stock We value Dixon at Rs 5050 i.e. 52x P/E on FY23E EPS

 

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