Jefferies Upgrades Wipro Ltd. (WIT) to Buy

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July 2, 2012 9:01 AM EDT
Get Alerts WIT Hot Sheet
Price: $1.86 --0%

Rating Summary:
    3 Buy, 11 Hold, 7 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 36
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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.

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