ICICI Direct has given Hold recommendation for Wipro with a target price of Rs. 420 in its research report issued on Oct 13, 2022
ICICI Direct’s research report on Wipro
Wipro is an IT, consulting & BPO player catering to BFSI, health, consumer, energy & utility, technology and communication. With over 230000 employees, it serves clients across six continents • Consistent payout (~70%), healthy OCF to EBITDA ratio of ~89%.
Outlook
We maintain HOLD rating on the stock. We value Wipro at Rs 420 i.e. 15x P/E on FY25E EPS.