0716 GMT - Cognizant Technology Solutions remains one of Nomura's top picks in India's IT services sector, Abhishek Bhandari says in a research report. The U.S.-listed Indian company says it's experiencing all-round sustained momentum in large deals across industries and service lines, and seeing improvement in contract values, the analysts says. Cognizant also says it's winning market share in financial services. However, Nomura lowers its 2025-2026 EPS estimates for the company by 3%-5% to partly reflect slightly higher tax rates. It lowers the stock's target price to US$97.00 from US$100.00, and maintains a buy rating. Shares closed at US$87.09. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 07, 2025 02:16 ET (07:16 GMT)
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