Wipro gets rating upgrade from Macquire; here is what global brokerages say on JSW Steel, Bank of Baroda shares

Global brokerage houses have been bullish on Wipro and Bank of Baroda (BoB) shares, while they remained bearish on JSW Steel.

Global financial brokerage Macquarie has upgraded Wipro from 'neutral' to 'overweight' and also raised the target price. Source: Pixabay

Global brokerage houses have been bullish on Wipro and Bank of Baroda (BoB) shares, while they remained bearish on JSW Steel.

Global financial brokerage Macquarie has upgraded Wipro from 'neutral' to 'overweight' and also raised the target price. Macquarie revised the target price from Rs 630 Rs 660, which translates into an upside of over 40% on June 1 closing price of Rs 470.75 per share.

Credit Suisse maintained its neutral rating on the IT stock with a target price of Rs 530 per share.

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Shares of Wipro gained over one per cent to trade on the day's high of Rs 468.20 per share around 12 pm on the BSE on Thursday.

Credit Suisse maintained an 'underperform' rating on JSW Steel. The global brokerage firm slashed the target price of the metal stock from Rs 550 to Rs 425. It is a downside of 34% on Wednesday's closing price of Rs 570. It was of the view that steel spreads were heading towards their pre-covid lows and is still trading at expensive valuations. This also comes after the government imposed export duty on select steel products.

Around 12 pm, shares of JSW Steel were trading lower by one and half per cent to Rs 561 apiece on their previous closing on the BSE.

Morgan Stanely maintained an overweight rating on Bank of Baroda (BoB) shares with unchanged target price of Rs 140, while Credit Suisse maintained outperform rating on the counter. Credit Suisse sees a target price of Rs 130 for this public sector bank. On Wednesday's closing price of Rs 102, the upside is seen up to 37% over target prices of the two brokerages

Bank of Baroda rose nearly four per cent to touch the day's high of Rs 105.85 per share and was trading with nearly a two percent gain to RS 104 per share around the same time.

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