Goldman Sachs raised the firm’s price target on Cognizant to $76 from $75 and keeps a Neutral rating on the shares. The company’s acquisition of Belcan is a strategic positive as it diversifies its revenue concentration beyond Financial Services and Healthcare, though the firm remains at neutral and sees Cognizant remaining in the early innings of a pivot toward stronger growth, with gross margin pressure persisting in the near term, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTSH:
- Cognizant Completes Acquisition of Belcan
- Boeing’s Starliner to return without astronauts: Morning Buzz
- Cognizant sues Infosys over alleged stolen trade secrets, Reuters reports
- Cognizant appoints Rajesh Varrier as global head of operations
- Arm upgraded, Molson Coors downgraded: Wall Street’s top analyst calls