---
title: "Buy Coforge; target of Rs 2200: Motilal Oswal"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/299398761.md"
description: "Motilal Oswal reiterates a BUY rating on Coforge with a target price of Rs 2,200, implying 23% upside. The firm values the stock at 29x FY28E EPS. The report highlights Coforge's strategy to monetize AI shifts via its Nuuron platform and outcome-based pricing models, citing efficiency gains in client projects. Management emphasized investments in AI innovation and data practitioners."
datetime: "2026-09-18T04:47:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/299398761.md)
  - [en](https://longbridge.com/en/news/299398761.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/299398761.md)
generator: "portal-rs"
---

# Buy Coforge; target of Rs 2200: Motilal Oswal

**Motilal Oswal's research report on Coforge**

We attended Coforge’s (COFORGE) Enterprise Autonomy Strategy session, where discussions focused on how AI is changing enterprise software delivery and COFORGE’s approach to monetizing this shift through Nuuron (enterprise autonomy platform), Momentuum Blue (forward-deployed engineering unit), and industry-specific solutions. Management highlighted three key shifts: 1) AI is moving from assisting employees to doing more of the work, with humans increasingly focused on exceptions and judgement; 2) value is shifting from generic AI tools to enterprise data, context, and decisionmaking; and 3) traditional effort-based pricing is moving toward outcomebased models. COFORGE cited live examples, including reducing vehicle inspection costs from USD75 to USD35 per transaction, automating a 41-step title process with agents, and tripling mortgage tax-operations capacity with the same headcount. The company has invested USD58m in AI innovation (refer to Exhibit 1), and has 11,000+ data & AI practitioners, 100+ reusable agent archetypes, and 8+ AI platforms/assets.

**Outlook**

We continue to view COFORGE as a strong mid-tier player and reiterate it as our top pick. We value COFORGE at 29x FY28E EPS with a TP of INR2,200, implying a 23% potential upside. Reiterate BUY.

**Disclaimer**

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Coforge - 1809026 - moti

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**