Wedbush Starts Cognizant Technology Solutions (CTSH) at Neutral
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush initiates coverage on Cognizant Technology Solutions (NASDAQ: CTSH) with a Neutral rating and a price target of $65.00.
Analyst Moshe Katri commented, "We are initiating coverage with a NEUTRAL rating and $65 PT as recent/ongoing M&A activity in the Health Care provider space (30% of revenue FY15) combined with Brexit exposure is already impacting CY16's top line growth. We think this will likely more than offset the positive benefits from Cognizant's success in expanding its SMAC-based revenue as well as the cross-selling from TriZetto. Accordingly, YOY revenue and adj. EPS growth has been moderating from FY15's levels (high-teens) to the high single-digit to low-teens. Cognizant's stock currently trades at 15.8X WS/consensus FY17E adj. EPS."
Shares of Cognizant Technology Solutions closed at $56.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BTIG Starts Mitek Systems (MITK) at Buy
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Broadcom (AVGO) PT Raised to $215 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!