Morgan Stanley upgrades Wipro to Equalweight with new price target of $3.05.

From Yahoo Finance: 2025-06-23 15:13:00

Morgan Stanley upgraded Wipro Ltd. (NYSE: WIT) from Underweight to Equalweight on June 19, with a new price target of $3.05. The move follows a period of underperformance for Wipro shares post-April rally, resetting the risk-reward balance to a more neutral stance.

The upgrade reflects growing confidence in Wipro’s near-term positioning, especially as momentum increases in securing large deals. Morgan Stanley sees this as a leading indicator of revenue acceleration in the upcoming quarters, potentially marking a turning point for the Indian IT services firm.

Despite a slow top line, Wipro has maintained operating margins within a narrow range, showcasing disciplined cost control and resilient operational management. Morgan Stanley also noted the potential for improved capital allocation, hinting at more shareholder-aligned financial strategies ahead.

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