UPDATE - Oppenheimer Initiates Coverage on Wipro Ltd. (WIT) with a Perform; Jury Is Still Out On Restructuring
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Price: $1.89 -1.05%
Rating Summary:
3 Buy, 11 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 11 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Oppenheimer initiates coverage on Wipro Ltd. (NYSE: WIT) with a Perform.
Oppenheimer analyst said, "While WIT is well positioned to benefit from the secular growth nature of offshore IT services as well as accelerating growth rates from its restructuring efforts, for the near to medium term, we believe WIT could continue to lag its peers' top-line growth. Recent results have been encouraging, but it is too early to return a verdict on Wipro's restructuring efforts and the macro-environment remains challenging. With shares up 11% YTD and trading at the high end of the peer range of 14-24x FY12E EPS, we believe upside may be limited and thus initiate at Perform."
To see more ratings on WIT, Click Here
Oppenheimer analyst said, "While WIT is well positioned to benefit from the secular growth nature of offshore IT services as well as accelerating growth rates from its restructuring efforts, for the near to medium term, we believe WIT could continue to lag its peers' top-line growth. Recent results have been encouraging, but it is too early to return a verdict on Wipro's restructuring efforts and the macro-environment remains challenging. With shares up 11% YTD and trading at the high end of the peer range of 14-24x FY12E EPS, we believe upside may be limited and thus initiate at Perform."
To see more ratings on WIT, Click Here
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