Cognizant price target raised to $96 from $84 at BMO Capital

BMO Capital raised the firm’s price target on Cognizant (CTSH) to $96 from $84 and keeps a Market Perform rating on the shares. The stock remains the firm’s top pick in IT services, though while it is getting more constructive on the name, BMO is choosing to wait for a better entry point before potentially moving to more bullish rating, the analyst tells investors in a research note. BMO is also a bit more optimistic about the state of the industry in the near term and believes that many organizations need help in creating/managing AI workloads.