Deutsche Bank Starts Cognizant Technology Solutions (CTSH) at Buy; Despite Fears, Sales Remain Robust

Deutsche Bank initiates coverage on Cognizant Technology Solutions (NASDAQ: CTSH) with a Buy. PT $85.00.

Deutsche analyst says, "Cognizant is a leading IT consulting and outsourcing provider spearheading the trend towards offshore services. We believe Cognizant still thrives as the premier offshore player and share gainer even as worries about demand have emerged. Clients are still making spending decisions, and sales over the summer have been surprisingly strong. Though we are monitoring the demand environment, we believe our 21% FY12 top-line growth estimate could be conservative."

For more ratings news on Cognizant Technology Solutions click here and for the rating history of Cognizant Technology Solutions click here.

Shares of Cognizant Technology Solutions closed at $63.77 yesterday.

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