Coforge shares surge post Q2 results; analysts divided on valuation
The stock’s 52-week range stands between ₹1,008.10 and ₹2,021.20, with the current upper circuit band at ₹2,090.50
Coforge Limited's shares surged by 2.51 per cent, reaching ₹1,948.20 as of midday on Monday, following strong Q2FY27 results announced on Friday. The stock experienced volatility, opening at ₹1,844.20 before rebounding throughout the day. Trading volumes were 28.86 lakh shares, amounting to a value of ₹549.68 crore by 12:22 IST.
Over the year, the stock has gained 17.82 per cent, outperforming the Nifty IT index which has declined 16.64 per cent in the same period. Analysts have responded positively to the earnings but differ in their price targets. UBS rated Coforge as Buy with a target price of ₹2,460, while Nomura also endorsed a Buy with a target price of ₹2,300.
Jefferies kept its Buy rating with a target price of ₹2,230, citing a 56 per cent rally over six months and raising EPS estimates by 3-5 per cent. JM Financial upgraded its rating to ADD, revising the target to ₹2,115 due to executable order book growth of 45.4 per cent YoY. Citi, the only bearish analyst, maintained a Sell rating with a target of ₹1,750, citing revenue growth below estimates and monitoring organic order book trends.
The stock's 52-week range is between ₹1,008.10 and ₹2,021.20, with the current upper circuit at ₹2,090.50.
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