India's Coforge gains; CLSA reiterates top rating on AI capabilities

Coforge

25/03/2026 06:38

** Coforge COFO.NS rises ~3.7% to 1150.7 rupees

** CLSA reiterates "high-conviction outperform" rating after hosting co's management to discuss AI narrative in IT sector

** PT of 2,278 rupees implies 105% potential upside

** CLSA says co will be "clear winner in the upcoming AI cycle"

** Adds co's Encora acquisition will have revenue and cost synergies, bolster co's data, cloud, AI-led engineering capabilities

** Stock rated "buy" on avg; median PT is 1,985 rupees, per data compiled by LSEG

** YTD, COFO down 31% vs IT index's .NIFTYIT 21% drop

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))