Wipro Share Price Target: Morgan Stanley Sees Strong Cash Position and Buyback Potential Morgan Stanley has raised its upside target for Wipro Ltd., an Indian IT services company, by 19%, citing the firm’s robust cash reserves and potential for capital returns to shareholders. The brokerage highlighted Wipro’s strong cash position of approximately USD 4.7 billion, which it believes provides the company with the flexibility to execute significant shareholder returns through buybacks or dividends. This assessment has sparked renewed interest in Wipro’s stock, with analysts suggesting the company’s financial health could drive near-term positive sentiment. A key component of Morgan Stanley’s analysis is the anticipated share buyback program. The company’s board is set to deliberate on the proposal during its upcoming meeting on April 16, with the potential buyback size estimated at USD 2 billion (Rs 180 billion). This amount represents roughly 8.5% of Wipro’s market capitalization. While the buyback is widely expected, the timing of its execution remains uncertain, which could lead to short-term market reactions. Historically, past buybacks have correlated with stock outperformance, as investors often interpret such moves as signals of confidence in the company’s financial strength and future prospects. The brokerage’s 19% upside target is tied to its outlook for Wipro’s stock performance in the coming months. Morgan Stanley maintains an Underweight rating for the stock, with a target price of Rs 242 for 2026. This projection reflects the firm’s belief that Wipro’s current financial position and strategic initiatives could position it for growth, despite broader macroeconomic challenges.#board_meeting #morgan_stanley #share_buyback #wipro_ltd #indian_it_sector
