Jefferies has reaffirmed its ‘Buy’ rating on Coforge, elevating the target price to ₹10,350. This revision follows Coforge’s announcement of its largest-ever deal, valued at $1.6 billion, which enhances revenue growth visibility for FY26 and strengthens its position in the travel vertical.
Implications of the Deal:
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Enhanced Market Position: The substantial contract not only solidifies Coforge’s standing in the travel sector but also opens avenues for securing similar large-scale deals in the future.
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Resilient Growth Amid Market Conditions: The ability to clinch such a significant deal demonstrates Coforge’s capability to capture market share regardless of the prevailing demand environment.
In light of this development, Jefferies has adjusted its FY26-27 estimates upward by 3-5%, reflecting optimism about Coforge’s growth prospects.
