Cognizant Technology Solutions (CTSH) PT Raised to $80 at Guggenheim

Guggenheim analyst Jonathan Lee raised the price target on Cognizant Technology Solutions (NASDAQ: CTSH) to $80.00 (from $65.00) while maintaining a Buy rating.

The analyst commented: "With deal ramps tracking and an unchanged macroeconomic backdrop, we are constructive into this week's print and expect CTSH management to narrow its CY26 revenue growth outlook around the midpoint. We recognize investor consternation around the above-seasonal 4Q embedded in the outlook. However, management has been clear that the midpoint does not require a macro recovery, and our channel work has yet to surface any headwinds to expected large deal ramps. We also see new logo wins, Belcan contribution, and improving utilization supporting growth and margins in 2H, while our checks offer a credible explanation for management's call for less impact from furloughs. Reflecting our increased confidence in the 2H trajectory, we are raising our price target to $80 (vs. $65 prior), and we reiterate our Buy rating."

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