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
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
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