JPMorgan upgraded Cognizant (CTSH) to Overweight from Neutral with a price target of $98, up from $88. The company has made “significant strides in closing the growth gap” versus peers through its focus on execution, large deals and employee retention under CEO Ravi Kumar, the analyst tells investors in a research note. The firm says Cognizant is well aligned with the trend towards cost cutting projects, which should help capture its “fair share of large projects,” while its vertical mix seems favorable.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTSH:
- Cognizant’s Strategic Positioning and Growth Prospects Drive Buy Rating
- Cognizant’s Strategic Growth and Stability: Buy Rating Despite Macroeconomic Challenges
- Cognizant’s Earnings Call: Strong Growth Amid Challenges
- Cognizant price target lowered to $85 from $94 at BMO Capital
- Cognizant price target raised to $79 from $77 at TD Cowen