Cognizant Technology Solutions (CTSH) PT Lowered to $47 at RBC Capital
RBC Capital analyst Daniel Perlin lowered the price target on Cognizant Technology Solutions (NASDAQ: CTSH) to $47.00 (from $88.00) while maintaining a Sector Perform rating.
The analyst commented: "Expecting Inline Result With a Focus on the IT Spending Environment; We expect CTSH to post inline results and maintain FY26 guidance. Strong momentum in signing larger deals (TCV of $100m+), the Astreya acquisition, and a focus on outcome-based projects should support sustained MSD topline growth. Project Leap should drive continued margin expansion and allow CTSH to accelerate its transformation into an AI-enabled operating model. However, we remain cautious given heightened macroeconomic uncertainty and IT spending headwinds, where enterprises have been selective with large investments. We're lowering our price target to $47 based on broader IT Services sector rerating."