India's Dixon Technologies rises; Macquarie starts with 'outperform'

About this update from Dixon Technologies (india) Ltd.

** Shares of Dixon Technologies NSE:DIXON rise 0.5% to 17,852 rupees** Macquarie initiates coverage with "outperform" rating; sets PT at 20,000 rupees, implying a 12.6% upside to last close** Brokerage cites Dixon's dominance in smartphone manufacturing and its emerging component business as key growth drivers** Notes global supply-chain realignment is creating new opportunities for the co** Sees room to expand free cash flow margins from 1% in FY25 to 4% by FY30, supporting long-term ROCE improvement** Dixon rated "buy" by 29 analysts on average; median target price is 18,235.5 rupees – data compiled by LSEG** Stock down 0.5% YTD

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