Citi analysts upgraded Cognizant (NASDAQ:CTSH) to Buy rating from Neutral and raised the price target to $80 from $72. The analysts pointed out that Cognizant has made significant progress on various fronts, particularly under the leadership of new CEO Ravi Kumar. This positive change has improved Cognizant’s reputation with both clients and employees, sparking steady and incremental investor interest in what they call a “idiosyncratic, self-help story.”

The analysts also highlighted Cognizant’s efforts to narrow the performance gap on both the demand and supply sides of the business. They cited strong year-to-date bookings and improved client and employee retention as early indicators that Cognizant can compete effectively with its main competitors as the industry recovers.

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