BMO Capital lowered the firm’s price target on Cognizant (CTSH) to $83 from $96 and keeps a Market Perform rating on the shares. The firm is citing concerns around AI ripple effect across tech and thus broader multiple expansion limitations, including for IT services, the analyst tells investors in a research note. BMO adds however that it believes Cognizant will successfully execute against its 2026 guidance, with modest upside potential.
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