Cognizant price target lowered to $88 from $98 at Susquehanna

Susquehanna lowered the firm’s price target on Cognizant (CTSH) to $88 from $98 and keeps a Positive rating on the shares. The firm said Q1 was ok and note the company is leading with a “3 Vector” strategy that basically emphasizes Infrastructure Modernization necessary for agentification. The firm thinks this is the right message. Despite a “meh” quarter, the stand-up of previously announced deals seems to be helping visibility.