Epam Systems price target raised to $256 from $230 at Morgan Stanley

Morgan Stanley analyst James Faucette raised the firm’s price target on Epam Systems (EPAM) to $256 from $230 and keeps an Equal Weight rating on the shares while upgrading the firm’s U.S. IT Services industry view to In-Line from Cautious. Investor expectations and risk/reward now look “reasonably balanced for the next 12-18 months,” though while industry growth shows signs of improvement, key early indicators “do not point to meaningful upside to current estimates,” the analyst tells investors.