Nomura upgraded India's Wipro Ltd to 'buy' from 'neutral' and raised its target price to Rs 490 from Rs 390 apiece.
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 US demand.
Valuations discounts versus rivals Infosys Ltd and Tata Consultancy Services Ltd also turn risk reward more favourable, Nomura said.
Copyright @ Thomson Reuters 2013
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