Morgan Stanley has reiterated its ‘Underweight’ stance on Wipro with a target price of ₹265 per share, slightly below the current market price of ₹267.20. The rating comes even as the company announced a major strategic deal worth $650 million, which the brokerage acknowledges as a sentiment booster.
According to Morgan Stanley, the deal is expected to support revenue growth expectations in FY2026, particularly valuable given the prevailing volatile macroeconomic environment. The brokerage believes the announcement could aid near-term stock sentiment and lend some support to the share price.
However, the long-term rating remains cautious, as the firm awaits further clarity on execution and broader business momentum before turning more constructive.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
