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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%)


Outlook


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


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first published: Aug 2, 2021 11:27 am

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