Wipro downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley downgraded Wipro (WIT) to Underweight from Equal Weight with a price target of INR 242, down from INR 270. The company’s Q4 outlook suggests slower conversion of deals into revenue and weaker growth visibility into fiscal 2027 relative to peers, the analyst tells investors in a research note. Morgan Stanley sees this widening Wipro’s valuation discount to peers.