The brokerage downgraded HCL Technologies, Wipro and Tata Technologies to Underweight from Neutral, while cutting their target prices. JPMorgan lowered its target on HCL Tech to Rs 1,000 from Rs 1,370, cut Wipro's target to Rs 160 from Rs 200 and reduced Tata Technologies' target to Rs 540 from Rs 560.
JPMorgan has downgraded HCL Technologies, Wipro, and Tata Technologies to 'Underweight' from 'Neutral'. The brokerage stated that the ongoing AI boom has not yet translated into substantial growth for these IT companies. Consequently, target prices were also significantly…
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