DXC Technology downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded DXC Technology (DXC) to Underweight from Neutral with a price target of $24, down from $27. As a people-based business, DXC’s CEO change creates uncertainty, as it will take time for a new culture to emerge and for clients to digest it, the analyst tells investors in a research note. The firm prefers to step further from the sideline until it learns more about new leadership and impact on executive turnover at DXC. JPMorgan prefers shares of Kyndryl Holdings (KD) to DXC.