** Truist Securities initiates coverage on IT consulting firm Cognizant CTSH.O with "hold" rating

** Sets PT at $66, implying an 18.4% upside to the stock's last close

** Brokerage notes co's deep AI partnerships, but flags that CTSH's rapidly growing AI revenue still represents less than 10% to 15% of total revenue

** "We would look to become more constructive as we see indications of broader adoption of AI in enterprises, which should enable CTSH to accelerate revenue" - Truist

** Average rating of 32 analysts is "buy"; their median PT is $71 - data compiled by LSEG

** Stock has fallen 32.6% YTD