Barclays analyst Ramsey El-Assal upgraded Cognizant to Equal Weight from Underweight with a price target of $75, up from $61. The analyst believes the new management team has made the right changes to right-size the labor pyramid and prepare the business to capture demand as it returns. As a result, Barclays has become more constructive on the shares and believes Cognizant “has returned to the starting line with a new and improved identity.”
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