fell 4.13 per cent to close at ₹1,870.70 on Tuesday, despite brokerages presenting a mixed outlook following the company’s recent investor day presentation. The stock, which touched an intraday low of ₹1,855.20, saw significant trading volume of 21.79 lakh shares worth ₹408.97 crore.
Three major brokerages issued reports on December 9 with divergent views on the mid-tier IT services firm. ICICI Securities maintained its ‘Hold’ rating with a revised target price of ₹1,880, representing minimal upside from current levels. The brokerage values the stock at 32x one-year forward earnings, acknowledging the company’s strong execution focus but remaining cautious on valuation.
In contrast, Motilal Oswal struck a more optimistic tone, reiterating its ‘Buy’ rating with a target price of ₹3,000—implying a 54 per cent upside. The brokerage values Coforge at 38x FY28 estimated earnings, citing the company’s executable order book of $1.6 billion and positioning it as a “top pick” in its coverage universe.
Emkay Research took a middle ground with an ‘Add’ rating and target price of ₹2,000, while Elara Securities recommended ‘Accumulate’ with a ₹2,120 target.
All analysts highlighted key takeaways from the investor day: Coforge’s focus on 20 large deal closures in FY26 (10 already secured), expansion in underpenetrated US West Coast and Midwest markets, healthcare vertical scale-up plans, and AI-led transformation initiatives. The company derives approximately 60 per cent of revenue from North America and targets maintaining 14 per cent EBITDA margins.
Management emphasized its proactive approach to deal creation rather than RFP-driven processes, with particular strength in banking, financial services, insurance, and travel verticals. The company’s fresh order intake reached $3.5 billion in FY25.