Dixon Share Price Soars to ₹12,195, Brokerage Firm Downgrades Rating
📈 Dixon Technologies Limited’s share price has surged to ₹12,195. However, a brokerage firm has downgraded its rating based on outperformance. CSLA downgraded Dixon Technologies Limited after the release of the June quarter results post market closing on Tuesday. The brokerage firm has raised the target price of the shares from ₹9,000 to ₹11,400.
Goldman Sachs Sees 43% Dip in Dixon Technologies Shares
📉 Goldman Sachs has observed a 43% decline in Dixon Technologies shares. Keeping its sell rating intact, Goldman Sachs has set a revised target price of ₹6,740 per share. This indicates a potential 45% decrease in the share price. On Friday (2 August 2024), the share was trading at ₹11,689, up by 0.16%.
Analysts’ Recommendations on Dixon Technologies
📊 Out of 29 analysts covering Dixon Technologies, 14 recommend buying shares, 5 advise holding, and 10 suggest selling. Brokers are hopeful that Dixon’s momentum will continue. The company’s revenue has doubled in the April-June period compared to the previous year.
Dixon’s Future Prospects
📱 CSLA anticipates that mobile phones will remain Dixon’s primary focus in the near future. This is because existing contracts will expand, and new customers will be added. Dixon is preparing for strong medium-term growth in the IT hardware, mobile components, and industrial electronics manufacturing services sectors.
Current Market Performance
📈 Dixon Technologies shares were trading at ₹12,433 on Wednesday with a 3.8% surge. The shares have seen a 90% increase in 2024 so far. However, in the last 12 months, the stock has surged by 195%.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
