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Hold Coforge: target of Rs 5500: ICICI Direct

ICICI Direct recommended hold rating on Coforge with a target price of Rs 5500 in its research report dated July 29, 2021.

August 02, 2021 / 11:27 AM 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%)


We downgrade the stock from BUY to HOLD We value Coforge at Rs 5500 i.e. 40x P/E on FY23E EPS

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 2, 2021 11:27 am

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