Goldman Sachs upgraded Cognizant Technology Solutions (NASDAQ: CTSH) from Buy to Conviction Buy with a price target of $68.00 (from $64.00). Analyst James Schneider thinks 2015 outlook sets bar for outperformance.

"We are adding Cognizant to the Conviction Buy List post a strong quarter, as we believe conservative guidance should allow it to deliver upside to Street estimates over the course of 2015. Following a strong quarter in which the company delivered solid revenue upside, management’s 2015 guidance of "at least" 19% yoy compares to the Street at 20% yoy and our estimate of 21% yoy. The company expects 1Q15 revenue of "at least" $2.88 bn and non-GAAP EPS of $0.69, in line with Street revenue of $2.88 bn and EPS of $0.69. We would point out that all the revenue upside in the quarter came in Healthcare, and we remain bullish on this vertical in 2015," said Schneider.

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 $55.10 yesterday.