Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

HSBC raises Dixon Technologies stock target

EditorAhmed Abdulazez Abdulkadir
Published 23/04/2024, 10:10 pm

On Tuesday, HSBC updated its investment stance on Dixon Technologies India Ltd (DIXON:IN), increasing the stock's price target to INR8,800 from INR8,400. The firm has maintained a Buy rating on the shares of the consumer electronics manufacturer.

The adjustment to the price target reflects a roughly 5% increase and is based on revised revenue and earnings estimates. HSBC's decision comes with a reaffirmed confidence in Dixon Technologies' performance, underpinned by the firm's valuation method which involves a target two-year forward Price-to-Earnings (PE) multiple of 55 times.

The new price target of INR8,800 is indicative of HSBC's expectation for Dixon Technologies' stock performance to improve, suggesting a positive outlook for the company's financial growth. The firm's methodology for setting the price target is rooted in forward-looking metrics, which consider the company's future potential earnings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.