Cognizant price target raised to $94 from $88 at BMO Capital

BMO Capital raised the firm’s price target on Cognizant (CTSH) to $94 from $88 but keeps a Market Perform rating on the shares. The company delivered a reasonable quarter all around, particularly in margins, though its organic revenue growth guide fell a bit short of expectations, the analyst tells investors in a research note. Financial services spend is slowly improving notably for the Indian providers, as well as pockets of healthcare, but many areas of the market remain pressured, including aerospace and automotive, BMO added.