ICICI Direct: HOLD Coforge, target Rs 1880

• ICICI Direct recommends a "Hold" rating for Coforge with a revised target price of INR 1,880.
• Coforge's management strategy focuses on large deal wins, strong execution, specialized expertise in BFS, Insurance, and travel, and scaling healthcare/UK public sector.
• The company aims to maintain industry-leading revenue growth and a 14%+ EBIT margin profile.
• ICICI Direct adjusted USD/INR rates, leading to an EPS increase for FY27E/FY28E, valuing Coforge at 32x on one-year forward EPS of INR 59.

Why It Matters: It offers financial advice on Coforge, guiding investment choices.