Market Overview

UPDATE: Nomura Raises PT to $80 on Cognizant Technology Solutions on Solid Q3

Related CTSH
Watch These 7 Huge Put Purchases In Thursday Trade
7 Biggest Price Target Changes For Thursday

Nomura reiterated its Buy rating on Cognizant Technology Solutions (NASDAQ: CTSH) and increased its price target from $75 to $80.

Nomura noted, “We liked the CTSH 3Q results on two counts: 1) diversified growth with outperformance vs. peers across all geographies; and 2) better-than anticipated performance in Retail/manufacturing and BFSI offsetting the sluggish growth in healthcare (25% of revenues). We expect market share gains in BFSI, continued traction in retail/manufacturing and the diversified service line portfolio to counter possible growth moderation in the pharma portion of healthcare in FY13F. Our expectations remain intact, and we see CTSH growing revenues and EPS at CAGR of ~18% over FY11-14F. Our earnings estimates are in line with consensus; we believe street pessimism on valuation multiples will fade as Cognizant continues to outperform peers."

Cognizant Technology Solutions closed at $65.27 on Thursday.

Latest Ratings for CTSH

Sep 2016Goldman SachsDowngradesBuyNeutral
Sep 2016CLSAMaintainsBuy
Sep 2016CLSADowngradesOutperformUnderperform

View More Analyst Ratings for CTSH
View the Latest Analyst Ratings

Posted-In: NomuraAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (CTSH)

View Comments and Join the Discussion!