Cognizant price target raised to $89 from $82 at JPMorgan

JPMorgan raised the firm’s price target on Cognizant to $89 from $82 and keeps a Neutral rating on the shares. The firm established 2025 price targets for the IT and business process outsourcing group. The analyst’s top picks for the second half of 2024 include long Endava (DAVA), where it says low Street expectations and the stock’s ow multiple offer an attractive risk/reward profile heading into the fiscal 2025 guidance, and a pair trade long Kyndryl (KD), short DXC Technology (DXC), as it thinks Kyndryl has a structural advantage. JPMorgan expects “subtle financial improvement” despite the “outstanding macro wildcard” across the group.