Hold Wipro Ltd., target Rs 595: Centrum Broking

Centrum Broking has a hold call on Wipro Ltd. with a target price of Rs 595.0. The current market price of Wipro Ltd. is 540.55. Time period given by analyst is year, when Wipro Ltd. price can reach defined target. The company delivered in line revenues but missed on EBIT margins and PAT. It said leakage in revenues from top clients and pressure in select verticals appears to be weighing on growth. It pegged PE at 15.4x FY17 and 13.4x FY18 estimated earnings.