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Fly News Breaks for February 7, 2019
CTSH
Feb 7, 2019 | 06:55 EDT
As previously reported, BMO Capital analyst Keith Bachman upgraded Cognizant to Outperform and raised his price target to $88 to reflect his increased forward earnings multiple of 18- to 19-times from 17-times prior. The analyst cites the company's FY19 revenue growth outlook and a positive management transition, stating that he expects Brian Humphries to be an "outstanding leader", and also calls for the company to give more focus to growing its top line rather than focusing on margins.
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