Oppenheimer Maintains Outperform Rating and PT on CTSH

In a recent report, Oppenheimer has maintained their outperform rating and $82 price target after a solid quarter for Cognizant Technology Solutions CTSH. In the report, Oppenheimer said, "For the first time since 2Q08, Cognizant reported an in-line revenue quarter. Nonetheless, we view CTSH's FY11 revised revenue/EPS guidance as reasonable, if not conservative, as the prospects for the offshore IT industry in 2011 remain strong and we continue to expect CTSH to benefit from share gains." CTSH closed yesterday at $77.52.