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Investing.com - Macquarie has initiated coverage on Dixon Technologies India Ltd (NS:DIXON) with an Outperform rating and a price target of INR20,000.00.
The research firm cites Dixon’s dominant position in Android smartphone manufacturing as a key factor in its positive outlook for the company.
Macquarie notes that Dixon is increasing its backward integration capabilities, which should make the company more cost-competitive and help ensure customer retention.
The INR20,000 target price set by Macquarie implies a 31x FY28E EV/EBITDA valuation for the Indian electronics manufacturing services company.
Dixon Technologies provides manufacturing services for consumer electronics, home appliances, lighting products, and mobile phones for various domestic and international brands.
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