Wedbush analyst Moshe Katri raised the firm’s price target on Cognizant to $85 from $75 and keeps an Outperform rating on the shares. The firm continues to believe that ongoing steps undertaken by the company’s new CEO Ravi Kumar will be effective in repositioning the company strategically, resulting in a step up to peer-like revenue growth rates. Wedbush has recently met Cognizant’s CEO for an update as he is nearing his 1st year anniversary with the company.
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