Morgan Stanley has upgraded its rating on Mphasis to Overweight and raised the target price to ₹3,500, implying a potential upside of over 33% from the current market price of ₹2,631.10.
The brokerage believes that the strong deal wins reported in the first quarter are not just a one-off event, but a possible precursor to a sustained quarterly growth trajectory. It noted that this performance could help establish a stronger momentum going forward.
Additionally, Morgan Stanley sees the drag from the logistics vertical as being largely behind, removing a key overhang that has been weighing on the company’s overall performance. This shift, the firm believes, could improve Mphasis’ margin and revenue visibility across verticals.
Disclaimer: This article is based on the views and target price provided by Morgan Stanley. It is not a recommendation to buy or sell any securities. Investors should consult a certified financial advisor before making any investment decisions.
