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Fly News Breaks for August 2, 2018
CTSH
Aug 2, 2018 | 13:30 EDT
Baird analyst David Koning noted that Cognizant's after Q2 revenue and Q3 guidance were below consensus, but he also notes that its 2018 revenue guidance was reiterated and its EPS guidance slightly raised. He feels the 7% move lower is "a little much" and believes the valuation seems attractive at current levels. Koning, who thinks 10%-15% EPS growth seems likely for Cognizant over the next few years, keeps an Outperform rating and $90 price target on the stock.
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