CLSA Maintains a Buy Rating on Wipro Limited (WIT)

Wipro Limited (NYSE:WIT) is one of the best penny stocks to buy according to hedge funds. CLSA analyst Sumeet Jain maintained a Buy on the stock with a price target of INR265, on October 3.

Is Wipro Ltd. (WIT) the Best Technology Penny Stock to Buy Right Now?

In other news, Wipro Limited (NYSE:WIT) announced on September 15 that it entered into an expanded partnership with CrowdStrike for the launch of Wipro CyberShield MDR, which is “an AI-powered unified managed security service (MSS) that simplifies and strengthens enterprise security operations”.

Management stated that CyberShield MDR employs a modern SOC to deliver industry-leading capabilities, providing AI-driven automation, enhanced visibility, and higher efficiency.

Wipro Limited (NYSE:WIT) is a global information technology, consulting, and outsourcing company involved in the development and integration of solutions.

The company’s operations are divided into the following segments: Information Technology Services, India State Run Enterprise Services, and Information Technology Products.

While we acknowledge the potential of WIT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WIT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.