Most brokerages have upgraded their ratings and price targets for Dixon
Investor sentiment remained buoyant after Dixon Technologies posted strong quarterly earnings earlier this week. The stock extended Wednesday’s gains to climb 1.5% higher to ₹16,800 in afternoon trade.
The electronic components manufacturer reported a 100% jump in consolidated net profit to ₹280 crore for Q1FY26, while revenue also nearly doubled to ₹12,835 crore. The strong performance was driven by its Mobile & Electronics Manufacturing Services (EMS) division, which accounted for 82% of operating profit and 91% of total revenue.
Management expects further profitability improvements, with a 120–130 bps margin uptick in FY26.
Technical Analysis
Dixon Technologies’ charts reflect bullish momentum, said SEBI-registered analyst A&Y Market Research. The stock recently broke out of a symmetrical triangle pattern on strong volumes, implying a bullish continuation signal.
With the immediate resistance seen between ₹16,982 and ₹17,277, a breakout above this range could unlock further upside toward the swing high of ₹19,000, the analyst noted.
Traders should monitor for sustained volume and price action to confirm the move, while any rejection near the resistance could lead to short-term consolidation, they added.
Brokerages Bullish
Brokerages responded with a largely optimistic tone. Motilal Oswal upgraded FY27 revenue and EPS estimates by 10% and retained a ‘Buy’ with a target of ₹22,100. Dolat Capital moved the stock to ‘Accumulate’ with a target price of ₹18,311.
CLSA and Nomura remained upbeat on the company’s JVs, while Morgan Stanley maintained an ‘Underweight’, citing broad-based segment misses.
Jefferies has upgraded the stock to ‘hold’ from ‘underperform’ while raising its price target to ₹15,400 from ₹13,300.
With both the chart and the fundamentals aligning, Dixon may be setting up for a strong second half, especially if it climbs above the key resistance zone, the analyst said.
Retail sentiment on Stocktwits remained ‘bullish’ amid ‘high’ message volumes.
Year-to-date losses stand at 6.4%.
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