Cognizant price target lowered to $78 from $80 at Susquehanna

Susquehanna lowered the firm’s price target on Cognizant to $78 from $80 and keeps a Neutral rating on the shares. The firm said – Q1 results showed improvement and will reinforce the enthusiasm for the new management. They said while there is no improvement in the discretionary environment, the stand up of previously announced deals seems to be helping visibility.