Cognizant price target raised to $76 from $75 at TD Cowen

TD Cowen raised the firm’s price target on Cognizant (CTSH) to $76 from $75 and keeps a Hold rating on the shares. The firm said better 3Q revenue and margins reflect building execution while discretionary improvement and increased ACV is positive, but mixed performance evident in flat year-over-year bookings and light 4Q organic view.