HSBC analyst Yogesh Aggarwal downgraded Cognizant Technologies to Hold from Buy with a price target of $79, down from $90. The company’s performance continues to lag its peers and the recent growth guidance cut was “quite surprising,” Aggarwal tells investors in a research note. As the sector slows in the coming quarters, Cognizant may show less underperformance relative to peers, “but many parts of the business need structural repair, especially banking,” writes the analyst. Aggarwal says Cognizant is losing market share in banking digital projects and that healthcare “is too big to provide the required growth impetus.” The analyst views the shares as a “value trap.”