Coforge share price: Brokerages bullish on its enterprise autonomy and AI strategy; check targets

Coforge's push towards enterprise autonomy is emerging as a potential growth driver, with brokerage firms highlighting the its AI investments, reusable technology assets and forward-deployed engineering capabilities. They said the shift from AI-assisted services to autonomous enterprise workflows could help Coforge expand wallet share and open up outcome-based pricing opportunities, though the pace of adoption and monetisation remains a key monitorable.

The views came after Coforge's Enterprise Autonomy strategy session, where management outlined its approach through Nuuron, Data Cosmos, AgenticOps and Momentuum Blue. Motilal Oswal said the strategy is aimed at moving beyond traditional AI implementation towards owning the execution and ongoing management of enterprise AI.

Shares of Coforge Ltd plunged nearly 2 per cent to Rs 1,755.15 on Friday, with its market capitalization slipping below Rs 80,000 crore mark. The stock has corrected more than 13 per cent from its 52-week high at Rs 2,021.95, hit in August 2026. Despite this fall the stock is up 75 per cent from its 52-week low at Rs 1,008.50, hit in March 2026.

According to Motilal Oswal, enterprise AI is moving from assisting employees to performing a larger share of work, with humans increasingly handling exceptions and judgement. It added that value is shifting from generic AI tools towards enterprise data, context and decision-making, while effort-based pricing is gradually giving way to outcome-based models.

PL Capital pointed to a gap between agentic AI adoption and enterprise autonomy. It said around two-thirds of Coforge's clients have adopted agentic AI capabilities, but only about 5 per cent are currently able to orchestrate autonomy, as per management. The brokerage said gaps in enterprise context, data readiness, security and cost control are creating opportunities for Coforge's Nuuron, AgenticOps, AI-ready data and Momentuum Blue offerings.

JM Financial also identified enterprise context as a key differentiator as AI models, agents, compute and code become more commoditised. It said Nuuron combines AgenticOps, Data Cosmos and Momentuum Blue to operationalise enterprise autonomy. JM Financial added that AgenticOps is live across 37 clients, with 98.2 per cent action accuracy and 1.2 million autonomous resolutions a day, while more than 160 cloud and AI infrastructure clients are at different stages of adoption.

Data capabilities remain another focus area. Motilal Oswal said Data Cosmos has more than 122 data assets, 68 AI agents and 52 live client deployments. Coforge has also built more than 100 reusable agent archetypes and has over 11,000 data and AI practitioners. According to the brokerages, the company invested 58 million US dollars in AI innovation in FY26.

PL Capital said clients are increasingly adopting multimodel architectures, with open-source models accounting for around 35 per cent of token consumption. As the capability gap between models narrows, it sees opportunities in model optimisation, token economics, security and governance, along with continued agent creation, reskilling and workflow redesign.

On Momentuum Blue, Motilal Oswal said the unit has 70-75 forward-deployed engineers and is targeting 150, while JM Financial said they undergo a 12-week training programme and estimated the total US supply of such engineers at 5,000-7,000.

Motilal Oswal maintained a Buy rating with a target price of Rs 2,200, valuing Coforge at 29 times FY28E EPS. PL Capital retained its Buy rating with a target price of Rs 2,120, based on 28 times FY28E EPS, while JM Financial maintained an Add rating with an unchanged target price of Rs 1,980. The brokerages said they will watch FDE scaling, outcome-based pricing adoption, reusable IP and whether AI investments improve delivery economics.

Among other brokerage firms, Morgan Stanley remained 'overweight' on it with a target price of Rs 2,060, while Nomura and Kotak Institutional Equities maintained a 'buy' with a target price of Rs 1,860 and Rs 2,000 respectively. However, Ambit gave it a 'sell' rating with a target price of Rs 1,300.