UPDATE - Barclays upgraded Cognizant Technology Solutions (CTSH) to Overweight; Solid Trends, Pullback Presents Opportunity
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Price: $61.87 +1.56%
Rating Summary:
19 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
19 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Barclays upgraded Cognizant Technology Solutions (NASDAQ: CTSH) from Equalweight to Overweight. PT increased from $77 to $88.
Barclays analyst said, "Our assessment of industry trends over the past few months, including key drivers in the financial, retail, manufacturing, and healthcare verticals, has increased our confidence in the sustainability of a strong, multi-year growth trajectory for CTSH."
"We believe CTSH's 2Q report could be a potential catalyst, with management likely to provide greater visibility to 2012 drivers, along with further confidence in the company's ability to absorb wage increases through the back half of the year. Given more contained market expectations for CTSH at these levels, combined with our stronger confidence in business trends, we believe shares are set up well for outperformance through the year."
Barclays analyst said, "Our assessment of industry trends over the past few months, including key drivers in the financial, retail, manufacturing, and healthcare verticals, has increased our confidence in the sustainability of a strong, multi-year growth trajectory for CTSH."
"We believe CTSH's 2Q report could be a potential catalyst, with management likely to provide greater visibility to 2012 drivers, along with further confidence in the company's ability to absorb wage increases through the back half of the year. Given more contained market expectations for CTSH at these levels, combined with our stronger confidence in business trends, we believe shares are set up well for outperformance through the year."
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