Wipro Limited (WIT) Receives Analyst Rating

Wipro Limited (WIT) : The consensus on Wipro Limited (WIT) based on 4 analyst recommendation on the company stock is 3.5, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Wipro Limited (WIT) : The highest level Wipro Limited (WIT) is projected to reach is $12 for the short term and the lowest estimate is at $9. The consolidated price target from 2 rating analysts who initiate coverage on the stock is $10.25 and the possibility the share price can swing is $2.47.


Also, Equity analysts at the Brokerage firm HSBC downgrades its rating on Wipro Limited (NYSE:WIT). The rating major has initiated the coverage with reduce rating on the shares. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on August 9, 2016.

Wipro Limited (NYSE:WIT): After opening at $9.75, the stock dipped to an intraday low of $9.72 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $9.87 and the buying power remained strong till the end. The stock closed at $9.81 for the day, a gain of 0.62% for the day session. The total traded volume was 823,759. The stocks close on the previous trading day was $9.75.

Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Companys IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide. The IT Products segment provides a range of third-party IT products, which allows it to offer IT system integration services. These products include computing, storage, networking, security and software products, including databases and operating systems. The Companys development centers are located around the world, including in India, the United States, Europe, Australia, the Philippines and China.

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