EPAM Systems (EPAM) PT Raised to $282 at Mizuho

Mizuho analyst Dan Dolev raised the price target on EPAM Systems (NYSE: EPAM) to $282.00 (from $245.00) while maintaining a Outperform rating.

The analyst commented: "Last week EPAM reported 3Q24 results. Following two consecutive quarters of organic CC cuts, the company increased its 2024 organic CC revenue growth guide, raising it from -2.9% to -2.3% at the midpoint, which suggests that EPAM is finally turning the corner. We believe that following a challenging IT Services spending environment over the past ‾2 years and EPAM's "Great Relocation" of its delivery professionals, the company is set up well to accelerate organic revenue growth in 2025.

We raise revenue/EPS estimates due a more favorable demand environment and the closing of the NEORIS acquisition. PT up to $282 vs. $245 prior. Reiterate Outperform."

You May Also Be Interested In

• Correction: Kepler Cheuvreux Upgrades Siemens AG (SIE:GR) (SIEGY) to Hold
• HSBC Downgrades HK Electric (2638:HK) (HKCVF) to Hold
• JPMorgan Upgrades Nanya Technology Corp (2408:TT) to Overweight