Brokerages maintain mixed views on Wipro post Q4 results

Brokerages have a mixed view on Wipro even as the company posted a strong fourth quarter results. The stock ended up 9% at Rs 469.25 after posting a fresh 52-week high during the day on Friday.

CLSA has maintained an ‘underperform’ rating on with a target price of Rs 450, revised up from Rs 440. Jefferies has maintained ‘underperform’ as well with a Rs 380 target while Investec has maintained a ‘hold’ rating.

Increasing target price to Rs 465 from Rs 440 and retaining a ‘hold’ rating, HSBC said a few more quarters of sustainable growth is needed to drive valuation upwards.

Kotak Institutional has retained an ‘add’. Wipro is checking the right boxes in its turnaround quest, save for a questionable Capco acquisition, said Kotak. Nomura upgraded the stock to neutral on improving execution.