Stifel raised the firm’s price target on Epam Systems to $301 from $288 and keeps a Buy rating on the shares. While end-market demand remains muted, increasing confidence in the economic outlook should accelerate backlog realization in 2024, the analyst tells investors. The firm does not view the company’s upcoming Q4 earnings as a catalyst, but views Epam as a best-in-class asset with potential upward estimate revisions and further multiple expansion.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on EPAM:
- ‘The Picks & Shovels of AI’: Mizuho Says It’s Time to Pull the Trigger on These 2 IT Service Stocks
- Epam Systems initiated with a Buy at Mizuho
- Netflix upgraded, Tesla initiated: Wall Street’s top analyst calls
- Epam Systems downgraded to Underweight from Equal Weight at Morgan Stanley
- Epam Systems price target raised to $312 from $250 at Citi