As previously reported, Scotiabank analyst Divya Goyal upgraded Epam Systems (EPAM) to Outperform from Sector Perform with a price target of $275, up from $245. Recently released Q3 results beat the firm’s and consensus estimates, driven by a better-than-expected demand environment further supported by R&D incentives from the Polish government, the analyst noted. While the global spending on discretionary engagements remains muted given sustained focus on cost containment, the firm believes Epam remains well-positioned given its robust digital engineering expertise, globally diversified geographic footprint, and long-standing client relationships, the analyst tells investors.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EPAM:
- Epam Systems upgraded to Outperform from Sector Perform at Scotiabank
- Epam Systems price target raised to $250 from $225 at Barclays
- Epam Systems price target raised to $221 from $200 at TD Cowen
- Epam Systems price target raised to $270 from $240 at Susquehanna
- EPAM Systems Sees Growth and Increases Year-End Outlook