NEW YORK (TheStreet) -- Shares of Cognizant Technologies Solutions Corp. (CTSH) are up 0.64% to $51.65 after Barclays reinstated coverage of the company with an "overweight" rating and a price target of $66.
"While 2014 showed slower trends, we believe the long-term growth story is still intact, with potential for acceleration during 2015," analysts said about the New Jersey-based provider of custom information technology, consulting and business process outsourcing services.
"We see a number of drivers to boost top-line growth including: strength in financial services, a refocused healthcare segment, and other notable opportunities including social, mobile, analytics and cloud (SMAC) (industry forecasts suggest about a $175 billion opportunity by 2017) and white space in parts of Europe," analysts added.
Separately, TheStreet Ratings team rates COGNIZANT TECH SOLUTIONS as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate COGNIZANT TECH SOLUTIONS (CTSH) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."