ICICI Securities rates Coforge 'buy' with ₹2,290 target
Business
ICICI Securities just gave Coforge a thumbs up, recommending a "buy" with a target price of ₹2,290.
Their optimism comes from Coforge's strong growth streak and smart financial moves, especially after the company's standout performance in Q2 fiscal 2027.
Coforge secures $1 billion in contracts
Coforge pulled in $1 billion in new contracts last quarter, up 50.6% from the previous quarter and more than double last year's numbers.
They're also aiming for higher profit margins through AI-driven efficiency and plan to turn 100% FCF/PAT guidance of 100% for FY27.
With these wins, ICICI Securities bumped up its earnings forecast for Coforge by 7% for fiscal 2028.