Coforge Shares Surge 10% on Strong Q4 Results; Analysts Predict Up to 47% Upside
Coforge hits 10% upper circuit on solid Q4; analysts peg up to 47% upside
Business Standard
Image: Business Standard
Coforge's shares rose by 10% to ₹1,285.60 following a significant increase in net profit for Q4 FY26, reaching ₹612.3 crore. Analysts from Elara Capital and Choice Institutional Equities have upgraded their ratings, forecasting potential price targets of ₹1,380 and ₹1,900, respectively, indicating upside potential of up to 47%.
- 01Coforge reported a 134% increase in Q4 FY26 net profit to ₹612.3 crore.
- 02Shares hit the upper circuit limit of 10%, reaching ₹1,285.60.
- 03Elara Capital upgraded its rating to 'Accumulate' with a target of ₹1,380.
- 04Choice Institutional Equities maintained a 'Buy' rating with a target of ₹1,900, suggesting a 47.79% upside.
- 05Analysts expect strong revenue growth driven by AI and strategic pivots towards higher-margin businesses.
Advertisement
In-Article Ad
Coforge, an IT services firm, saw its shares soar by 10% to ₹1,285.60 during early trading on May 6, 2026, following a robust Q4 FY26 earnings report. The company reported a consolidated net profit of ₹612.3 crore, a remarkable increase from ₹261.2 crore in the same quarter last year. Revenue from operations also rose by 30% year-on-year to ₹4,450.4 crore. Brokerages responded positively, with Elara Capital upgrading its rating to 'Accumulate' and setting a target price of ₹1,380, while Choice Institutional Equities maintained a 'Buy' rating with a target of ₹1,900, indicating a potential upside of 47.79%. Analysts noted that despite a 30% correction in shares over the past three months, the company is positioned for strong growth, driven by effective cost control and advancements in AI capabilities. The exit from low-margin businesses is expected to enhance profitability in the long term.
Advertisement
In-Article Ad
Coforge's strong financial performance signals potential job stability and growth within the IT sector, which could benefit employees and stakeholders.
Advertisement
In-Article Ad
Reader Poll
Are you optimistic about Coforge's growth prospects following its Q4 results?
Connecting to poll...
More about Coforge
Read the original article
Visit the source for the complete story.