EPAM Systems (EPAM) PT Raised to $87 at UBS; Sees Continued Upside

UBS analyst Steven Milunovich reiterated a Buy rating and boosted his price target on EPAM Systems (NYSE: EPAM) to $87.00 (from $81.00), saying they continue to see upside.

Milunovich commented, "We are raising our price targets and maintaining Buy ratings on EPAM and Luxoft. Both stocks are up more than 50% year-to-date as their P/E multiples closer align with lowto- mid-20s growth. We continue to believe headcount ultimately will be the gating factor to growth for both companies. However, labor tightness should be at least 2-3 years away in most of Eastern Europe, while both are transplanting capabilities to other parts of the world successfully."

For an analyst ratings summary and ratings history on EPAM Systems click here. For more ratings news on EPAM Systems click here.

Shares of EPAM Systems closed at $72.39 yesterday.

You May Also Be Interested In

• Enphase Energy (ENPH) PT Lowered to $130 at Canaccord Genuity
• Danaher (DHR) PT Raised to $271 at Baird
• General Motors (GM) PT Raised to $60 at JPMorgan