J.P. Morgan Reiterates Overweight Rating, $86 PT on Cognizant Technology Solutions on Meeting Takeaways
In a report published Monday, J.P. Morgan reiterated its Overweight rating and $86.00 price target on Cognizant Technology Solutions Corp. (NASDAQ: CTSH).
J.P. Morgan noted, “Late last week, we hosted meetings with Cognizant's VP, IR and Treasury, David Nelson. The overall message was consistent and generally positive, recognizing CTSH's guidance is prudently conservative as 1) it does not want to repeat last year's disappointing guidance cut, 2) it expects modest growth in its healthcare vertical (payers and pharma) this year, and 3) ramp rates in the BFS vertical are still uncertain. We see upside assuming CTSH maintains its investment premium over peers to drive attractive long-term premium growth.”
Cognizant Technology Solutions Corp. closed on Friday at $80.51.
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