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Fly News Breaks for September 14, 2018
CTSH
Sep 14, 2018 | 06:59 EDT
Loop Capital analyst Joseph Vafi kept his Buy rating and $94 price target on Cognizant, saying that yesterday's speculation in Mint Magazine about a potential retirement of its CEO Frank D'Souza next year would be a loss but also potentially a silver lining for the company. The analyst notes that such a departure suggests that the board is confident in the business model's transformation having sufficiently progressed to endorse a management change. Vafi also expects Cognizant to continue to make strides in capturing IT services market share.
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