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Fly News Breaks for October 28, 2019
CTSH
Oct 28, 2019 | 06:59 EDT
BMO Capital analyst Keith Bachman lowered his price target on Cognizant to $75 ahead of its earnings, stating that every IT services company has posted weak revenues and signings over the past month. The analyst notes that even though Cognizant has been more proactive about bidding for new work, he does not see it as being immune to the reduced spending trend. Longer term, Bachman keeps his Outperform rating on the shares given its growth potential in new geographic areas and industry verticals outside financials/health care.