BMO Capital analyst Keith Bachman lowered the firm’s price target on Cognizant (CTSH) to $85 from $94 and keeps a Market Perform rating on the shares. The company delivered a solid quarter amid low expectations given the lackluster quarterly results and demand commentary from services competitors, the analyst tells investors in a research note. Cognizant performance was highlighted by strength in Financial Services and Healthcare, though the firm’s reduced price target reflects a weakening services environment, BMO added.
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Read More on CTSH:
- Cognizant price target raised to $79 from $77 at TD Cowen
- Cognizant’s Strong Q1 Performance and Strategic Deals Signal Positive Outlook
- Cognizant price target raised to $82 from $78 at Baird
- Cognizant upgraded to Positive from Neutral at Susquehanna
- Cognizant’s Strong Start and Strategic Initiatives Balanced by Economic Uncertainties: Hold Rating
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