India's Coforge rises as JPMorgan says growth guidance intact despite board churn

Coforge

30/09/2026 06:21

** Shares of IT services firm Coforge COFO.NS rise 5.15% to 1,810.6 rupees
** JPMorgan ("Overweight",TP: 1,850rupees) says management reiterated FY27 margin guidance and long-term revenue target despite recent board changes
** Brokerage says co is on track for its strongest-ever quarter of large deal signings in Q2FY27
** Management expects AI-led price deflation of 15%-30% over the next three years, followed by incremental annual deflation of 1%-3%; says most of the portfolio has already undergone AI-related price cuts
** Brokerage says margin upside could come from higher utilisation, operating leverage on M&A amortization and general and administrative costs
** COFO rated "Buy" on avg by 34 analysts, median PT at 1,980 rupees - data compiled by LSEG
** YTD stock up 8.33%

(Reporting by Surbhi Misra in Bengaluru)
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