Friday’s top brokerage calls: Wipro, Bandhan Bank and more
Citi on Wipro: The brokerage has a ‘buy’ call on the stock and raised its target to Rs 655 per share from Rs 615 earlier. It said that Q1 revenue and guidance surprised while margin and attrition trends were weak.UBS on Wipro: The brokerage maintains a ‘neutral’ call on the stock with the target at Rs 470 per share. Recent run in the stock could cap near-term upsides for Wipro, said UBS.CLSA on Wipro: The brokerage has an ‘underperform’ call on the stock but raised target to Rs 560 per share from Rs 540 earlier. It said that constant currency revenue growth is well above Wipro’s guidance and estimates.Morgan Stanley on Wipro: The brokerage is ‘underweight’ on the stock but raised target to Rs 560 per share from Rs 520 earlier. Execution on revenue growth by Wipro has improved meaningfully, positive surprise drives higher EPS estimates, it stated.CLSA on Bandhan Bank: The brokerage has an ‘underperform’ call on the stock with the target at Rs 300 per share. It stated that overdues in West Bengal have been high in spite of negligible political interference.Morgan Stanley on Cyient: The brokerage is ‘equal-weight’ on the stock with the target at Rs 700 per share. Cyient’s performance appears lackluster relative to most industry peers, MS said, adding that, margin performance was good.
