JPMorgan analyst Tien-tsin Huang raised the firm’s price target on Epam Systems to $319 from $272 and keeps an Overweight rating on the shares. The analyst rolled forward IT services price targets to December 2024. The firm says that while the business process outsourcing sector had a “punishing” first half of 2023, it feels better about the achievability of fiscal 2023 outlooks. However, there is “more downside than upside risk” assuming strength in large deal momentum fading is greater than short-cycle work recovering, the analyst tells investors in a research note.
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Read More on EPAM:
- Epam Systems price target raised to $265 from $250 at Barclays
- Epam Systems price target raised to $270 from $240 at Citi
- Epam Systems sees Q3 EPS $2.52-$2.60, consensus $2.49
- Epam Systems reports Q2 EPS $2.64, consensus $2.34
- EPAM Reports Results for Second Quarter 2023 and Updates Full Year Outlook