ICICI Direct has a buy call on Wipro Ltd.
with a target price of Rs 315.0.
The current market price of Wipro Ltd.
is Rs 280.15 Time period given by analyst is a year when Wipro Ltd.
price can reach defined target.Wipro Ltd., incorporated in the year 1945, is a largecap company with a market cap of Rs 134030.44 Crore) operating in Information Technology sector.
Investment rationale by ICICI Direct: Wipros margin performance in Q4FY18 and revenue outlook for Q1FY19E is weaker than expected.
However, continued strength in BFSI, strong order bookings in Q4 on digital indicates that recovery to start from Q2FY19E.
Secondly, most of the negatives seems to be priced in and currently it is trading at 13.3x FY20E.
Hence, we maintain our BUY recommendation on the stock with a revised target price of Rs 315/share (15x FY20E EPS).