UPDATE: Jefferies Upgrades EPAM Systems (EPAM) to Buy; Early Stages of Multi-Year Demand Cycle
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Jefferies analyst Surinder Thind upgraded EPAM Systems (NYSE: EPAM) from Hold to Buy with a price target of $670.00 (from $455.00).
The analyst commented, "We upgrade both EPAM and GLOB to Buy from Hold. IT Services, led by digital engineering and business transformation services, are in the early stages of a new multi-year demand cycle. Our upgrade reflects increased confidence around EPAM and GLOB generating industry leading mid-20s organic growth in 2022, for which our adj EPS estimates are 7.2% and 8.0% above consensus, respectively. Near-term, expect a large 2Q earnings beats."
Shares of EPAM Systems closed at $558.40 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesJefferies & Co, Earnings
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