JP Morgan Comments On Cognizant's "Solid" 2Q

JP Morgan has published a research report on Cognizant Technology Solutions CTSH after the company reported "solid" 2Q results. In the report, JP Morgan writes, "CTSH reported solid 2Q11 results with revenue growth faster than peers and well above Street's expectations. More importantly, the company's 3Q guidance represents at least 5.5% sequential growth (on organic basis) – indicating continued strength in offshore demand environment amid high concerns and macro uncertainty." JP Morgan maintains its Overweight rating on Cognizant, which closed yesterday at $70.69.