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Fly News Breaks for April 16, 2019
CTSH
Apr 16, 2019 | 07:15 EDT
As previously reported, Wells Fargo analyst Edward Caso downgraded Cognizant to Market Perform from Outperform as he sees no near-term positive catalysts, while operating headwinds persist, including digital, health and banking weakness along with reduced visa availability. The analyst remains surprised that the new CEO was chosen after long-term targets were offered. Caso also lowered his price target on the shares to $75 from $82.
News For CTSH From the Last 2 Days
CTSH
Apr 22, 2024 | 05:21 EDT
Citi analyst Ryan Potter lowered the firm's price target on Cognizant to $82 from $90 and keeps a Buy rating on the shares. The analyst continues to have a cautious view toward the enterprise IT spending environment into the Q1 reports with the demand environment relatively unchanged from late 2023. This includes continued pressures on discretionary spend and delayed decision-making as macro, geopolitical, and some industry-specific concerns remain, the analyst tells investors in a research note.