Brokers’ call: JP Morgan upbeat on Wipro

Analysts at foreign brokerage JP Morgan have compared technology companies Infosys and Wipro and have given a ‘thumbs up’ to the latter.

In its report subtitled ‘comparison of the laggards’, JP Morgan notes that Infosys has reduced its initial FY12 revenue growth guidance from 8-10% to “at least 5%” in July.

The foreign brokerage expects the company to reset the guidance levels even downwards in coming quarters. Wipro IT services revenues hover around $1.50-1.55 billion for the past four quarters.