Wipro Ltd (NYSE: WIT) stock suffered a major decline of -11.6% on 7/19/24. The shares closed at $6.09. Moreover, exceptionally high trading volume at 390% of normal accompanied the decline. The stock has been strong relative to the market over the last nine months but has declined -6.2% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, WIT is expected to continue to be an important Value Builder.
Wipro has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Wipro has a slightly negative Appreciation Score of 35 but a slightly positive Power Rating of 61, and the Neutral Value Trend Rating results.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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