Nomura upgrades Wipro shares to 'buy' on growth outlook
Reuters: Feb 28 2013, 09:12 IST
* Nomura upgrades India's Wipro Ltd to "buy" from "neutral" and raises its target price to 490 rupees from 390 rupees.
* The investment bank cites expectation for "an imminent" turnaround in growth on the back of an increase in its deal pipeline and a more stable outlook for U.S. demand.
* Valuations discounts versus rivals Infosys Ltd and Tata Consultancy Services Ltd also turn risk reward more favourable, Nomura says.
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