Jefferies Maintains Buy Rating and $87 PT on Cognizant Technology
A report from Jefferies reiterates its Buy rating and $87 price target on Cognizant Technology (NASDAQ: CTSH).
The report states, “Consistent with historical practices, over the next 1-2 weeks, we believe CTSH is likely to file an 8-K disclosing targets for senior management stock-based compensation, which are typically tied to revenue growth thresholds for the following year. Therefore, we believe the upcoming 8-K will serve as a leading indicator for CTSH's 2012 revenue guidance, which will be issued on the 4Q11 earnings call in Feb.”
CTSH closed yesterday at $67.14.
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