JPMorgan upgraded Cognizant (CTSH) to Overweight from Neutral with a price target of $98, up from $88. The company has made “significant strides in closing the growth gap” versus peers through its focus on execution, large deals and employee retention under CEO Ravi Kumar, the analyst tells investors in a research note. The firm says Cognizant is well aligned with the trend towards cost cutting projects, which should help capture its “fair share of large projects,” while its vertical mix seems favorable.
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