Brokerage firm Jefferies has downgraded Dixon Technologies to ‘Hold’ from ‘Buy’ while raising the price target from Rs 4,350 to Rs 4,550. The global brokerage noted that the current risk-reward appears stretched post a sharp rally in the stock. EMS’s (Electronic Manufacturing Services) order book is influenced by sales budgeting by brand owners. Current weak demand poses a downside risk to the existing high-growth forecast
