EPAM Systems shares are trading lower after Morgan Stanley maintained an Underweight rating on the stock and lowered its price target from $250 to $236.
Portfolio Pulse from Benzinga Newsdesk
EPAM Systems' shares declined following Morgan Stanley's decision to maintain an Underweight rating on the stock, with a reduced price target from $250 to $236.
March 22, 2024 | 5:15 pm
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EPAM Systems' stock experienced a decrease after Morgan Stanley reaffirmed an Underweight rating and lowered the price target.
The reduction in the price target by a reputable financial institution like Morgan Stanley can lead to a negative perception among investors, potentially causing a short-term decline in EPAM Systems' stock price. The reaffirmation of an Underweight rating further solidifies the cautious stance towards the stock, influencing investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100