Cognizant price target raised to $85 from $78 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Cognizant to $85 from $78 and keeps a Market Perform rating on the shares. The company delivered better-than-expected results and raised FY24 guidance on an organic basis while its execution continues to improve, highlighted by solid sequential growth in Financial Services, the analyst tells investors in a research note.