Cognizant price target lowered to $80 from $85 at Guggenheim

Guggenheim lowered the firm’s price target on Cognizant (CTSH) to $80 from $85 and keeps a Buy rating on the shares. Q1 results “proved that few, if any, are immune to ongoing complexity in the demand environment,” the analyst tells investors. While the Q2 outlook signals near-term prudence in the wake of elevated levels of uncertainty, the outlook “also signals a shift in philosophy,” the analyst added.