Cognizant price target raised to $98 from $87 at Wells Fargo

Wells Fargo raised the firm’s price target on Cognizant (CTSH) to $98 from $87 and keeps an Overweight rating on the shares. The firm says its IT Services CIO Survey suggests a neutral/modestly positive 2026 demand backdrop. Wells anticipates largely stable growth with potential improvements in discretionary spend. AI will also likely be a net tailwind to Services revenues.