Cognizant price target raised to $93 from $82 at RBC Capital

RBC Capital raised the firm’s price target on Cognizant (CTSH) to $93 from $82 and keeps a Sector Perform rating on the shares. The firm cites the company’s Q4 earnings beat while noting that Bookings in the quarter increased 11% y/y, bringing trailing-12-month bookings growth to 3% y/y, the analyst tells investors in a research note.