Coforge shares surge post Q2 results; analysts divided on valuation

Shares of Coforge Limited were trading up 2.51 per cent at ₹1,948.20 around midday on Monday. | Photo Credit: Kesavan A N 1612

Shares of Coforge Limited were trading up 2.51 per cent at ₹1,948.20 around midday on Monday, touching an intraday high of ₹1,951.80, as investors reacted to the IT firm’s strong quarterly earnings reported on Friday.

The stock opened sharply lower at ₹1,844.20 before recovering strongly through the morning session, reflecting volatile sentiment. Trading volumes stood at 28.86 lakh shares with a traded value of ₹549.68 crore by 12:22 IST. On a year-to-date basis, the stock has returned 17.82 per cent, significantly outperforming the Nifty IT index which is down 16.64 per cent over the same period.

Brokerage responses to the Q2FY27 results were broadly positive but diverged on price targets. UBS maintained a Buy with the highest target price of ₹2,460, while Nomura (Buy, TP ₹2,300) flagged strong deal wins as a driver for continued growth. Jefferies retained its Buy rating with a TP of ₹2,230, noting a 56 per cent rally over the past six months and raising EPS estimates by 3-5 per cent. JM Financial maintained an ADD rating, revising its target upward to ₹2,115, citing executable order book growth of 45.4 per cent YoY as a key H2 visibility indicator.

Citi remained the sole bear, retaining a Sell with a target of ₹1,750, flagging revenue growth coming in below its estimates and flagging organic order book trends as a metric to watch.

Separately, on Monday morning Coforge announced it had been named a Leader in Everest Group’s Quality Engineering Services for AI Applications PEAK Matrix Assessment 2026, evaluated among 40 service providers.

The stock’s 52-week range stands between ₹1,008.10 and ₹2,021.20, with the current upper circuit band at ₹2,090.50.

Published on October 26, 2026