Cognizant initiated with a Neutral at Mizuho

Mizuho initiated coverage of Cognizant with a Neutral rating and $82 price target. The firm expects the turnaround of Cognizant to take longer than expected, and while fundamentals should improve, there are near-term headwinds, the analyst tells investors in a research note. While the improvement in organic growth is helped by longer duration and large deal bookings, areas of concern include Financials and Healthcare, Mizuho says.