Guggenheim analyst Jonathan Lee lowered the firm’s price target on Epam Systems (EPAM) to $210 from $285 and keeps a Buy rating on the shares. Channel conversations “surfaced incremental positivity in client discussions through the quarter,” despite elevated levels of uncertainty in the current environment, the analyst tells investors. The firm cites broader macro-driven multiple compression for its lowered target, but remains constructive on Epam shares, the analyst added.
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