Cognizant Technology Solutions (CTSH) PT Raised to $78 at BofA Securities

BofA Securities analyst Jason Kupferberg raised the price target on Cognizant Technology Solutions (NASDAQ: CTSH) to $78.00 (from $75.00) while maintaining a Neutral rating.

The analyst comments "Following CTSH’s (Cognizant Technology Solutions) updated guidance due to the recently closed Belcan acquisition, we update our F24 revs/adj. EPS to $19,644M/$4.60 from $19,397M/$4.66 prior. We also adjust our PO to $78 from $75 based on 15.5x C25 P/E (15.0x prior) and DCF. Our multiple reflects a 25% discount to the S&P 500 (no change), which we believe is appropriate based on CTSH’s revenue and EPS growth profile. Our DCF model assumes a WACC of 9.1% (9.2% prior) and terminal growth rate of 2%. We reiterate our Neutral rating on the shares."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Critical One Energy closes second tranche of flow-through placement
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy