BMO Lowers Cognizant Target to $83, Cites AI-Driven Valuation Headwinds
BMO Capital cut its price target on Cognizant Technology Solutions to $83 from $96 while retaining a Market Perform rating. The firm pointed to artificial intelligence-related ripple effects across the technology sector and limited upside for valuation multiples among IT services providers, even as it expects Cognizant to meet its CY26 guidance and…