Daiwa Securities raised its price target for Cognizant Technology Solutions to $60 from $42. The firm maintained its "Neutral" rating on the IT services company's stock.
The price target revision follows Cognizant's successful AI-driven modernization project with Odyssey Logistics. The project reported a 37% net cost saving.
Cognizant's recent performance is mixed. The company shows strong short-term stock momentum. This contrasts with a year-to-date decline.