Societe Generale Downgrades Cognizant Tech Solns to Sell, Announces $67 Price Target
Portfolio Pulse from Benzinga Newsdesk
Societe Generale analyst Richard Nguyen downgraded Cognizant Tech Solns (CTSH) from Hold to Sell and set a price target of $67. The downgrade reflects a negative outlook on the company's stock.
January 05, 2024 | 12:09 pm
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Cognizant Tech Solns was downgraded by Societe Generale from Hold to Sell with a new price target of $67, indicating a bearish outlook on the stock.
Downgrades by analysts can lead to a negative perception among investors and potentially result in a decrease in stock price. The new price target of $67 suggests that Societe Generale believes the stock is currently overvalued, which could lead to a short-term decline in CTSH's stock price.
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