Hold Wipro target of Rs 285: Sharekhan
Sharekhan recommended Hold rating on Wipro with a target price of Rs 285 in its research report dated January 14, 2020.
Jan 15, 2020 / 12:48 PM IST
Sharekhan's research report on Wipro
Reported in-line revenue performance, while EBIT IT margin remained ahead of our expectations, led by rupee depreciation. Guided soft revenue growth of 0%- 2% for Q4FY2020E, owing to weakness in BFSI, deferment of renewals of certain digital projects and macro uncertainties. With inconsistent execution along with macro uncertainties, Wipro’s revenue growth is expected to remain at bottom quartile among tier-I companies.
We maintain our Hold rating on Wipro with a PT of Rs. 285.
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