Morgan Stanley (MS) has reiterated its ‘underweight’ rating on Wipro, maintaining the target price at ₹250. The brokerage cited that Wipro’s Q3FY25 margins exceeded estimates despite the impact of wage hikes, reflecting operational resilience.
The company’s Q3FY25 results showed no negative surprises for Q4 guidance, with large deal signings aligning with expectations. Growth was primarily driven by the healthcare vertical, a segment that continues to display strong demand. However, MS remains cautious about the stock, noting that Wipro’s upside risks are limited at current levels.
At the current market price (CMP) of ₹281.70, Morgan Stanley’s target price implies a 10.2% downside.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are advised to consult with their financial advisor before making any investment decisions.
