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Buy Coforge; target of Rs 5870: ICICI Direct

ICICI Direct is bullish on Coforge has recommended buy rating on the stock with a target price of Rs 5870 in its research report dated October 27, 2021.

October 28, 2021 / 02:00 PM IST
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ICICI Direct's research report on Coforge


Coforge offers system integration, apps & BPO services to BFSI, travel & healthcare verticals. Coforge’s revenues and PAT have grown at a CAGR of ~12% each over the past five years Healthy OCF/EBITDA (~75%) and robust return ratios (RoCE > 20%)


Outlook


We upgrade the stock to BUY (from HOLD earlier) We value Coforge at Rs 5870 i.e. 40x P/E on FY23E EPS


For all recommendations report, click here

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Broker Research
first published: Oct 28, 2021 02:00 pm
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ISO 27001 - BSI Assurance Mark