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Fly News Breaks for October 15, 2019
INFY, WIT
Oct 15, 2019 | 14:23 EDT
Credit Suisse upgraded Wipro (WIT) to Neutral from Underperform following the company's earnings report this morning, stating that the stock's valuation now appears "fair" as the company delivers against low expectations. Constant currency revenue growth of 1.1% quarter-over-quarter was a bit below the consensus forecast, but the magnitude of the miss was lower than at peers Tata Consulting and Infosys (INFY), while Q3 guidance was better than expected, the firm noted. The price target for Wipro shares was raised to Rs250 from Rs240.
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