Strong Comp Reports Bode Well for Cognizant Technology Solutions (CTSH) Results -Morgan Stanley

Morgan Stanley analyst James Faucette reiterated an Equalweight rating and $95.00 price target on Cognizant Technology Solutions (NASDAQ: CTSH) after comps, INFY and TCS, reported revenue growth of +21.5% and +15.4% y/y cc, respectively.

The analyst stated "We expect CTSH to see similar directional tailwinds as both INFY and TCS across key verticals. INFY’s strength in Life Sciences (+29.2% y/y cc), as well as strength at TCS in Life Sciences & Healthcare (+16.3% y/y cc), should translate well to CTSH’s Healthcare vertical. CTSH’s Products & Resources (23% of CTSH revenue) vertical should see similar strength as INFY in Manufacturing (+48.4% y/y cc) and Retail (+19.8% y/y cc), though we remain mindful of the contribution of Daimler to INFY’s Manufacturing growth."

For an analyst ratings summary and ratings history on Cognizant Technology Solutions click here. For more ratings news on Cognizant Technology Solutions click here.

Shares of Cognizant Technology Solutions closed at $88.07 yesterday.

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