Dixon Tech Shares Jump 3% After Q1 Earnings, Goldman Sachs' Target Price Hike

Shares of Dixon Technologies Ltd had a strong gap-up opening on Wednesday with gains of up to 3%.

This comes in the wake of the multinational electronics manufacturer's first-quarter earnings, which saw a ramp-up, with revenue from Mobile & EMS division rising two-fold.

The stock is trading at Rs 16,593 apiece, compared to Tuesday's close of Rs 16,110. Over a 12-month period, Dixon Tech shares have surged over 50%.

During the April-June period, Dixon Technologies' topline or revenue from operations rose 24% to Rs 12,863 crore, compared to Rs 10,292 crore in the previous quarter ended March 31, 2025.

• Revenue up 24% to Rs 12,863 crore versus Rs 10,292 crore (Estimate: Rs 12,155 crore)

• Ebitda at Rs 482 crore versus Bloomberg estimate of Rs 389 crore

• Margin at 3.8% versus Bloomberg estimate of 3.2%

• Net profit down 43% to Rs 225 crore versus Rs 400.8 crore (Estimate: Rs 221 crore)

Goldman Sachs released a note on Dixon Tech in light of its June quarter earnings, notably hiking the target price to Rs 11,110 from Rs 10,030 but maintaining a 'Sell' call.

Investec, meanwhile, released a positive note on the EMS company, maintaining a 'Buy' call with an unchanged price target of Rs 20,000.

Out of the 35 analysts tracking the company, 22 have a 'buy' rating on the stock, five recommend 'hold' and eight suggest 'sell', according to Bloomberg data.

The average of 12-month analysts' price target implies a potential upside of 6.5%.