EPAM Systems shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight but raised its price target from $235 to $250.
Portfolio Pulse from Benzinga Newsdesk
EPAM Systems' stock is trading lower following a downgrade by Morgan Stanley from Equal-Weight to Underweight, despite an increase in the price target from $235 to $250.
January 24, 2024 | 3:24 pm
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NEGATIVE IMPACT
EPAM Systems' stock is likely to experience short-term negative pressure due to the downgrade by Morgan Stanley from Equal-Weight to Underweight, even though the price target was raised.
Analyst downgrades typically lead to a negative short-term reaction in a stock's price as they suggest a less favorable outlook, despite the increase in price target which might mitigate the impact slightly.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100