Morgan Stanley lowered the firm’s price target on Cognizant (CTSH) to $70 from $82 and keeps an Equal Weight rating on the shares. Ahead of Q1 earnings due on Wednesday, April 29, the firm argues that the potential for a “convincing beat and raise has waned” amid mixed at best data-points from the firm’s CIO Survey and reports from Tata Consulting and Infosys (INFY).
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