Piper Sandler upgraded Epam Systems to Overweight from Neutral with a price target of $265, up from $243. The analyst is “increasingly more comfortable” on improving fundamentals for the company looking out over the next two years following the better than expected results. Piper is more confident that the stabilization of sequential growth rates will lead to revenue a growth inflection. In addition, Epam’s reduction of 2.7% operating costs should offset margin pressure, contends the firm.
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