Angel Broking gives ‘buy’ rating for Wipro
Angel Broking has given a “buy’’ rating for Wipro with a target price of Rs.452.
In a release, the broking firm noted: “The company maintained that investments to develop domain capabilities are going on to help drive medium-term growth.’’
Angel Broking said that it expected Wipro’s revenue to post a CAGR of 13.7 per cent over FY2012-14E, with EBITDA margins moving from 19.8 per cent in FY2012 to 20.5 per cent in FY2014.
“Over FY2012-14E, Wipro’s net profit is expected to post a CAGR of 15.2 per cent, which is industry leading,’’ said the report.