Wipro Share Price: Goldman Sachs downgrades stock; these are key risks
New CEO Thierry Delaporte joined Wipro in July 2020, and Goldman Sachs says that the new strategy rolled out with particular focus and importance given to Global Account Executives/ Sales Captains responsible for driving strong organic growth among strategic accounts. However, this is not an entirely new strategy and is in line with peers. Goldman Sachs believes execution around the strategy will be key to success, signs of which are yet to be seen. Tangible benefits to Wipro in terms of large deal wins, strong order book and margin improvements, in their view, will be the litmus tests amidst the new strategy.
Goldman Sachs 12 month target price of Rs 277 implies 23% potential downside vs. the sector coverage average of 4% upside: Reuters