Buy Coforge; target of Rs 4375: ICICI Direct

ICICI Direct's research report on Coforge

Coforge offers system integration, apps & BPO services to BFSI, travel & healthcare verticals. Revenues grew at 18.1% CAGR in the past five years • Healthy OCF, EBITDA (~75%) and robust return ratios (RoCE > 20%).

Outlook

We maintain our BUY rating on the stock. We value Coforge at Rs 4375 i.e. 25x P/E on FY24E EPS.

More Info

At 11:06 hrs COFORGE LIMITED was quoting at Rs 3,746.35, up Rs 43.60, or 1.18 percent.

It has touched an intraday high of Rs 3,762.00 and an intraday low of Rs 3,680.00.

It was trading with volumes of 7,283 shares, compared to its thirty day average of 13,562 shares, a decrease of -46.30 percent.

In the previous trading session, the share closed down 2.31 percent or Rs 87.55 at Rs 3,702.75.

The share touched its 52-week high Rs 6,133.00 and 52-week low Rs 3,224.45 on 04 January, 2022 and 15 June, 2022, respectively.

Currently, it is trading 38.91 percent below its 52-week high and 16.19 percent above its 52-week low.

Market capitalisation stands at Rs 22,830.22 crore.

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