CLSA has initiated coverage on Coforge with an outperform rating and a target price of ₹2,346, citing its strong positioning among India’s mid-tier IT services companies.
The brokerage highlighted that Coforge, which ranks among the top ten IT firms by revenue, derives nearly two-thirds of its revenues from the financial services and travel verticals. Its strategy of building domain expertise and maintaining a consulting-led approach has translated into a robust order book and consistent revenue and earnings growth.
CLSA forecasts revenue, EBIT, and EPS CAGRs of 15%, 16%, and 22% respectively for FY26–28, driven by the company’s execution strengths and diversified client base.
Disclaimer: The views and recommendations made in this article are those of CLSA. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.