Analyst Reiterates Positive Rating On EPAM Systems Amid Reduced Forecast: A Deep Dive Into Revised Estimates
Portfolio Pulse from Nabaparna Bhattacharya
Susquehanna analyst James E Friedman reiterated a Positive rating on EPAM Systems (NYSE:EPAM) but lowered the price target to $300 from $350 due to reduced forecasts. EPAM recently slashed its 2Q23 and FY23 financial outlook due to weakness in near-term demand. However, the analyst believes the current slowdown is likely temporary.
June 09, 2023 | 6:33 pm
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EPAM Systems' price target has been lowered to $300 from $350 by Susquehanna analyst James E Friedman, who maintains a Positive rating on the stock. The reduction is due to lowered forecasts for 2Q23 and FY23.
The analyst lowered the price target for EPAM Systems due to reduced forecasts for 2Q23 and FY23, which may cause short-term uncertainty for investors. However, the analyst maintains a Positive rating on the stock, indicating that the current slowdown is likely temporary. This suggests a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100