Nomura raised its target price to ₹2,767.32 per share from ₹2,211.24 earlier, implying an upside of nearly 26% from Friday’s closing price of ₹2,196.60. The revised target is also the highest among all brokerages covering the stock.
Nomura on Avalon Technologies
Nomura said Avalon’s proposed Zollner joint venture will expand the company into advanced electronics manufacturing services (EMS) in Europe, improving its long-term growth visibility and adding global customers.
The brokerage said the partnership will expand Avalon’s European presence and enable entry into healthcare, life sciences, and test and measurement segments. These new verticals offer high-complexity manufacturing and long product cycles, according to Nomura.
The JV investment is estimated at $30–50 million. At the midpoint investment of $40 million, Nomura estimates that 10x asset turns and a 15–17% EBITDA margin could boost Avalon’s FY29 earnings per share by 21%.
Analysts data and stock movement
According to Bloomberg data, of the 19 analysts covering the stock, nine have a Buy rating, four recommend Hold, while six gave it a Sell rating.
Shares of Avalon Technologies surged 10.34% on Monday, hitting a record high of ₹2,424 and ended 6.76% higher at ₹2,345.10. The stock has gained about 166% so far in 2026.
The stock is currently trading at more than 5x its listing price of ₹431 and is around 201% above its 52-week low of ₹777.30, recorded on January 29 this year.
