Two Firms Defend Cognizant (CTSH) as Shares Tumble 20%

A number of analysts are defending Cognizant (Nasdaq: CTSH) Monday following Q1 results and Q2 and FY12 sales guidance which came in below the Street and the resulting 19.8 percent decline in the stock.

Susquehanna's James Friedman said to buy the dip in the stock, arguing Cognizant is the best company in the space. The analyst maintains a Positive rating on the stock, but reduced his price target from $86 to $76.

Nomura's Ashwin Mehta also believes recent weakness could be used to start or add to positions, suggesting the company will continue to gain market share. Mehta has Cognizant shares at a Buy with an $83 price target.

Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Cognizant.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• The tech crown switches hands: Apple dethrones Nvidia as $4 trillion king
• JPMorgan upgrades 3M, Emerson Electric to Overweight ahead of earnings
• Vireo Growth completes $20M Pennsylvania dispensary license deal