Jefferies Upgrades Wipro Ltd. (WIT) to Buy
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Price: $7.85 +0.51%
Rating Summary:
6 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade WIT Now!
Jefferies upgraded Wipro Ltd. (NYSE: WIT) from Hold to Buy.
The firm comments, "We have been cautious on the sector for a while and are now taking a more constructive approach. In light of the choppy macro, an immediate pick up is unlikely. However, this time issues are more sovereign in nature and corporates are unlikely to delay their spends indefinitely. We are upgrading Infosys to a Buy as the stock has underperformed the market and the valuations/expectations are now reasonable."
For an analyst ratings summary and ratings history on Wipro Ltd. click here. For more ratings news on Wipro Ltd. click here.
Shares of Wipro Ltd. closed at $9.18 yesterday, with a 52 week range of $8.36-$13.80.
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The firm comments, "We have been cautious on the sector for a while and are now taking a more constructive approach. In light of the choppy macro, an immediate pick up is unlikely. However, this time issues are more sovereign in nature and corporates are unlikely to delay their spends indefinitely. We are upgrading Infosys to a Buy as the stock has underperformed the market and the valuations/expectations are now reasonable."
For an analyst ratings summary and ratings history on Wipro Ltd. click here. For more ratings news on Wipro Ltd. click here.
Shares of Wipro Ltd. closed at $9.18 yesterday, with a 52 week range of $8.36-$13.80.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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