Multiple brokerages have provided their views on Coforge. Here’s a summary:
- JPMorgan: JPMorgan has maintained an overweight call on Coforge, hiking the share price target to ₹9,600 from ₹9,300. The brokerage sees a 27.1% upside from the CMP of ₹7,555.45 and expects growth momentum to sustain with strong Cigniti growth and margin expansion by mid-November.
- HSBC: HSBC has maintained its buy rating, raising the target to ₹8,200, indicating an 8.5% upside from the CMP of ₹7,555.45. The brokerage is positive on Coforge’s Q2 results and expects strong revenue and margin growth, along with synergies from Cigniti’s integration.
- Citi: Citi has maintained a sell call on Coforge, with a target of ₹6,720, suggesting an 11.1% downside from the CMP of ₹7,555.45. Citi cited Coforge’s broad-based growth across verticals and headcount additions, but remains cautious on future growth trajectory.
- Nomura: Nomura has maintained its buy call, raising the target to ₹8,480, implying a 12.2% upside from the CMP of ₹7,555.45. The brokerage expects double-digit revenue growth for FY25, driven by strong order visibility and headcount additions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a qualified financial advisor before making any investment decisions
