Jefferies has maintained its ‘buy’ rating on Coforge stock with a target price of ₹10,100, highlighting the attractive valuation following a recent 22% decline. According to Jefferies, Coforge’s stock is currently trading at an attractive 33x FY26 price-to-earnings (P/E) ratio, making it an appealing investment opportunity.
Jefferies remains bullish on Coforge, citing strong top-line growth, improvement in operating margin, and balance sheet deleveraging as key drivers for future growth. The brokerage expects consistent revenue growth outperformance to continue, supported by a strong order book and consistent execution. Coforge is seen as a high-conviction pick within the Indian IT sector, given its robust growth outlook and strategic positioning.
Yesterday’s stock price performance:
On February 27, Coforge’s share price closed at ₹7,455.90, down by ₹177.85 or 2.33%. The stock’s decline comes despite Jefferies’ positive outlook, reflecting broader market caution and investor sentiment.
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