Morgan Stanley Lowers Wipro Limited (WIT) Target, Cites Sluggish Exit Rate

Core Viewpoint - Wipro Limited (NYSE:WIT) has been downgraded by Morgan Stanley due to concerns over its growth trajectory, with a revised price target of INR242 from INR270, indicating a need for significant improvement in quarterly growth rates to enhance performance [1] Group 1: Financial Performance - Wipro Limited reported a 1.4% sequential growth in IT services revenue, reaching $2.64 billion in its third-quarter FY25 results, alongside improved operating margins of 17.6%, highlighting efficiency and cost management [3] - Morgan Stanley has lowered its organic revenue growth estimates for Wipro Limited by 2.4%, adjusting the forecast from 4.2% YoY to 1.8% YoY in constant currency terms for FY27, based on a gradual ramp-up of contracts over the next two quarters [2] Group 2: Company Overview - Wipro Limited is an Indian IT, consulting, and business process services company, founded in 1945, operating through two segments: IT Services and IT Products [4]