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Fly News Breaks for August 11, 2016
CTSH
Aug 11, 2016 | 08:47 EDT
Bernstein analyst Lisa Ellis says that Cognizant faces little downside risk going forward, as the company looks to have "kitchen sinked" its revenue guidance and trades at its lowest level versus the market in three years. The analyst believes that the company's execution is improving, as she says that it is well-positioned vis-a-vis the cloud, while its high value "Horizon 2" services are generating over $3B in annual revenue. The firm keeps an Outperform rating on the shares.
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