Cognizant initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Cognizant (CTSH) with an Outperform rating and $100 price target The firm, which believes the company is “well-positioned to sustainably return to the winner’s circle” as a top-four in the industry in terms of constant currency growth, views the company as having ability to take share within a growing total addressable market. The firm also sees potential for the stock to re-rate higher, the analyst tells investors.