Wipro shares fall over 3% after Q1 results. Why have Nomura, Motilal & others cut target prices?

Brokerages remained divided on Wipro after its Q1FY27 results, with Nomura and Nuvama retaining Buy ratings but lowering target prices due to weak growth and cautious guidance. Motilal Oswal maintained a Neutral rating, citing another challenging year ahead. While analysts flagged macro uncertainty and sluggish deal ramp-ups, they believe AI-led demand and attractive valuations could support the stock over the long term.