Cognizant price target raised to $98 from $90 at Susquehanna

Susquehanna analyst James Friedman raised the firm’s price target on Cognizant (CTSH) to $98 from $90 and keeps a Positive rating on the shares. The firm said CEO Ravi Kumar has been successfully piloting the companywith his “3 Vectors Strategy” and the firm’s nulerous industry checks over the quarter suggests broad-based growth durability, tempered by exposure to smaller, discretionary deals. With the increasing emphasis on IT Services “workloads,” Susquehanna sees a clearer Vector 2 and Vector 3 monetization path.