Wipro initiated with “neutral weight” and $14 target price
New Ratings: Wipro initiated with “neutral weight”
Analyst Bryan C Keane of Prudential Financial initiated coverage on Wipro Limited (NYSE: WIT) with a “neutral weight” rating. The target price is set to $14.
In a research note published yesterday, the analyst mentioned that Wipro’s sustained success in entry into more services is expected to keep the company’s revenue growth healthy over the forthcoming years. Wipro has made six acquisitions since December 2005, which are estimated to add $17 million to revenues in F1Q07, the analyst says. Prudential Financial, however, does express concern with the company’s recent aggressive approach to acquisitions in view of integration risks and resulting margin contraction.
Fatal error: Call to undefined function similar_posts() in /home2/kyastyle/public_html/india/wp-content/themes/financial_nirvana/single.php on line 36