Wipro gains on double upgrade from CLSA; check revised target, rationale
Mon, Jul 1, 2024 1:18 PM

Wipro gains on double upgrade from CLSA; check revised target, rationale

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CLSA upgraded Wipro's rating from 'Underperform' to 'Outperform', raising the target price to Rs 607 from Rs 431, implying a potential 41% upside. The brokerage expects Wipro to provide Q2 constant currency revenue growth guidance of 0-2%. The company's $500 mn deal with a US communication services provider has been received positively, driving shares up 4% and making it the top Sensex gainer.

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