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Fly News Breaks for November 22, 2019
CTSH
Nov 22, 2019 | 07:32 EDT
Needham analyst Mayank Tandon downgraded Cognizant to Underperform from Hold. The analyst notes that his "deeper dive" analysis into the near-term challenges facing the company suggests that consensus expectations are "too high", with potential downward revisions coming over the next several months. Tandon adds that given the "current state of elevated attrition" and reports of wage increase suspensions, there may be further disruption to revenue growth and margins in FY21.
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