Nomura raises target price of Avalon Technologies that’s up over 150% in 2025; stock soars another 6%
Shares of Avalon Technologies rallied 6% to their day’s high of ₹2,326 on the BSE on Monday after Nomura raised its target price on the stock to ₹2,767 from ₹2,211 and maintained its Buy rating. The revised target implies 23% upside from current levels.
Nomura said Avalon entered a joint venture with Zollner Elektronic AG, an unlisted leading European electronics manufacturing services (EMS) company, for PCBA, box-build and system integration manufacturing in India. The JV intends to serve customers across geographies and sectors including healthcare and life sciences, test and measurement, rail and other industrial verticals.
