UPDATE: UBS Upgrades Wipro Ltd. (WPRO:IN) (WIT) to Neutral
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UBS analyst Diviya Nagarajan upgraded Wipro Ltd. (WPRO:IN) (NYSE: WIT) from Sell to Neutral with a price target of INR470.00 (from INR290.00).
The analyst comments "We think the combination of revamped management along with a strong message on a performance-driven organisation culture emanating from the board under chairman Rishad Premji makes Wipro's revenue revamp much more likely than with past CEO changes and strategy revamps. The deeper changes to organisation structure, while a likely implementation challenge, in our view offers opportunity for meaningful change towards a revenue focussed organisation."
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