Barclays Maintains an 'Overweight' on EPAM Systems (EPAM); Raising PT & Estimates After Strong Start

Barclays maintains an 'Overweight' on EPAM Systems (NYSE: EPAM) price target raised from $21 to $23.

Analyst, Darrin D. Peller, said, "EPAM reported strong 4Q results in its first earnings release as a public company, with revenue of $95.1 million (vs. our estimate of $89.6 million and consensus of $89.3 million) and non-GAAP EPS of $0.30 (vs. our estimate and consensus of $0.28)." (FY12 EPS estimate raised from $1.22 to $1.27)

"We continue to see potential valuation upside as EPAM's differentiated business model and strong secular growth profile becomes more familiar with investors."

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 $21.11 yesterday.

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