- Motilal Oswal maintains Buy rating on Coforge with a Rs 2,200 target price
- Target price implies around 23% upside from current market price of Rs 1,793
- Coforge's strong deal wins and cash conversion support medium-term growth outlook
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Motilal Oswal Report
Domestic brokerage firm Motilal Oswal has reiterated its 'Buy' rating on Coforge Ltd. and maintained a target price of Rs 2,200, implying a potential upside of around 23% from the current market price of Rs 1,793. The brokerage continues to identify the mid-tier IT services company as its top pick within the sector.
The brokerage highighted that Coforge's strong deal wins, continued execution, improving cash conversion, and further margin upside from the Encora integration support our medium-term growth outlook.
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Coforge is moving beyond the traditional AI implementation toward owning the execution and ongoing management of enterprise AI. Nuuron, Momentuum Blue, and industry-specific IP provide a platform to scale AI-led delivery, while the shift toward outcome-based pricing and greater use of reusable IP could improve delivery economics over time, adds the brokerage.
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