Oppenheimer Reiterates Outperform, $82 PT On Cognizant

In a note out today, Oppenheimer reiterated an outperform rating and $82 price target on Cognizant Technology (Nasdaq: CTSH).

“We anticipate continued share gains for CTSH, over time, from both Tier 1 peers and multi-national IT service providers. We remain confident in our FY11 estimates, and believe our FY12 growth assumptions are reasonable, especially in light of CTSH's FY12 performance targets. Maintain Outperform and $82 target,” Oppenheimer said in the note.