Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks

Page 7 of 7

01. DXC Technology Company (NYSE:DXC)

Price Reaction after the Price Target Cut: -3.36(-16.90%)

On May 17, BMO Capital analyst Keith Bachman opted to uphold his Market Perform rating on DXC Technology Company (NYSE:DXC), a prominent global technology services firm, while reducing the price target from $23 to $17.5. This adjustment triggered a notable price reaction, with the stock declining by 16.90%. DXC Technology Company (NYSE:DXC) operates in the technology sector and faced this substantial reduction in its price target, indicative of potential challenges ahead. Despite the downgrade in price target, Bachman maintained his Market Perform rating, suggesting a neutral outlook on the stock’s performance relative to the market.

In a recent development, DXC Technology Company (NYSE:DXC) has unveiled a new collaboration with Dell Technologies aimed at advancing Enterprise Intelligence Services (EIS). This strategic partnership signifies a significant stride forward in harnessing cutting-edge technologies, including AI, machine learning, data analytics, and intelligent automation, to transform raw data into a comprehensive enterprise perspective.

Carillon Chartwell Mid Cap Value Fund made the following comment about DXC Technology Company (NYSE:DXC) in its Q3 2023 investor letter:

“The Russell Midcap Value Index declined 4.5%, with only the energy and financials sectors generating positive returns. The healthcare, communication services, and consumer staples sectors were the weakest. DXC Technology Company (NYSE:DXC) provides a broad range of information technology services to enterprises. Revenue and booking declines caused concerns about the company’s competitive positioning.”

If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure. None. Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks is originally published on Insider Monkey.

Page 7 of 7