Cognizant price target raised to $67 from $54 at Deutsche Bank

Deutsche Bank analyst Bryan Keane raised the firm’s price target on Cognizant to $67 from $54 and keeps a Hold rating on the shares post the Q4 results. The company guided to Q1 revenue below current expectations and did not provide fiscal 2023 guidance while noting that it will fall short of prior mid-term guidance, the analyst tells investors in a research note. The firm cites higher peer group valuations for the target raise.