Wells Fargo Bets Big on IT Services

Wells Fargo made two bold calls on Monday, lifting targets on CTSH and ACN in the same session.

Analyst Jason Kupferberg raised his Cognizant target to $77 from $67, reiterating Buy. He lifted Accenture to a $252 target from $210, a 20% jump, while keeping a Hold rating. Both moves came hours after the consensus target on Cognizant ticked up to $67.70, signalling the broader analyst community is catching up.

Susquehanna's James Friedman added fuel with a $480 target on V, up from $427. That is a 12.4% increase in one move. Visa carries 36 Buy ratings and only two Sells.

Piper Sandler's Edward Tenthoff raised his Moderna target to $230 from $167, keeping a Buy. The 37.7% jump stands out given MRNA short interest sits at 9.8% of free float, leaving the stock exposed to short covering if the bull case gains traction.

LITE drew a new recommendation from an unnamed analyst, nudging the consensus target to $1,166. Lumentum's market cap has grown to $68.5 billion, reflecting strong AI-driven optics demand.

On the downside, CMCSA and DXCM both saw consensus targets trimmed slightly. Comcast faces ongoing subscriber pressure. DexCom's target dipped to $96.19 as competition in the CGM market weighs on sentiment.