EPAM Systems (EPAM) PT Raised to $750 at Cowen, Following Earnings

Cowen analyst Bryan C. Bergin raised the price target on EPAM Systems (NYSE: EPAM) to $750.00 (from $696.00) while maintaining a Outperform rating.

Analyst says: "EPAM delivered revenue upside (+240 bps above consensus) on strength across verticals, geos & client cohorts. Broad-based demand has shown no signs of slowing, supporting the view of elevated growth in the coming years that exceeds the historical guide of "at least 20%". Demand volume against a tight resourcing backdrop has enabled EPAM to push select rate increases in 2H21, with expectations that higher-than-average pricing increments will be more broadly implemented in 2022 (vs historical levels of LSD-MSD)."

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