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Wipro (NYSE:WIT) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Zacks.com reports. The brokerage currently has a $5.50 target price on the information technology services provider's stock. Zacks Investment Research's price objective would suggest a potential upside of 7.63% from the stock's previous close.
According to Zacks, "WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. "
A number of other research analysts also recently weighed in on the company. Investec downgraded Wipro from a "buy" rating to a "hold" rating in a report on Wednesday, October 14th. TheStreet raised Wipro from a "c+" rating to a "b" rating in a report on Wednesday, July 29th. Finally, Citigroup raised Wipro from a "neutral" rating to a "buy" rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. The company currently has a consensus rating of "Hold" and a consensus target price of $5.50.
Shares of WIT opened...