UPDATE: Jefferies Upgrades EPAM Systems (EPAM) to Buy; Early Stages of Multi-Year Demand Cycle

August 3, 2021 3:54 AM EDT
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Price: $605.29 -1.41%

Rating Summary:
    19 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 9 | New: 24
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(Updated - August 3, 2021 7:55 AM EDT)

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."

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 $558.40 yesterday.

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