Prabhudas Lilladher has issued a buy rating on Coforge with a target price of ₹2,120 in its research report dated September 18, 2026. According to the report, the recommendation is based on 28x FY28E EPS valuation, reflecting the brokerage's bullish outlook on the IT services company's AI transformation strategy. Recent market data shows Coforge trading at ₹1,793.00 on September 17, 2026, with a 1.49% gain and trading range of ₹1,759.40 - ₹1,797.40.
During Coforge's webinar on Enterprise Autonomy, management outlined their vision of moving from AI-assisted services to Enterprise Autonomy, marking a continued shift in services delivery model. As reported by Prabhudas Lilladher, only 5% of clients are currently able to orchestrate autonomy, while two-thirds of clients have adopted agentic AI capabilities, highlighting significant gaps in enterprise context, data readiness, security and control/cost. The company is addressing these gaps through its integrated Nuuron, AgenticOps, AI-ready data and Momentuum Blue/FDE offerings.
According to the research report, clients are increasingly adopting multimodel architecture, including open-source models at ~35% token consumption, as the capability gap between models narrows. Coforge expects AI to expand wallet share through greater consolidation of client workflows, while continuous agent creation, reskilling, retraining and workflow redesign could create a multi-year revenue opportunity as enterprises scale autonomy. The company invested US$58 million in AI innovation in FY26 and has built 100+ reusable agent archetypes.
As reported by Prabhudas Lilladher, Momentuum Blue (FDE operating unit) currently has 70-75 FDEs and targets 150 by March 2028, supported by an in-house FDE academy and structured training and shadowing program before deployment. The company expects that as autonomy moves into production, security, guardrails, compliance and human-in-the-loop controls are becoming increasingly important, creating incremental services opportunities and driving continued investment in AI capabilities.
