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J.P. Morgan Reiterates Overweight Rating, $86 PT on Cognizant Technology Solutions on Meeting Takeaways

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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.

Latest Ratings for CTSH

DateFirmActionFromTo
Mar 2017BerenbergInitiates Coverage OnHold
Jan 2017Morgan StanleyDowngradesOverweightEqual-Weight
Jan 2017Loop CapitalInitiates Coverage OnHold

View More Analyst Ratings for CTSH
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Reiteration Analyst Ratings

 

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