Cognizant price target raised to $82 from $81 at RBC Capital

RBC Capital raised the firm’s price target on Cognizant to $82 from $81 and keeps a Sector Perform rating on the shares. The firm is adjusting its model to include the company’s Belcan acquisition and the corresponding change in management’s guidance, the analyst tells investors in a research note. RBC adds that it continues to see the acquisition as positive deployment of Cognizant’s capital as it significantly strengthens the company’s service offerings and diversifies the client base.