EPAM Systems (EPAM) PT Lowered to $202 at Jefferies

Jefferies analyst Surinder Thind lowered the price target on EPAM Systems (NYSE: EPAM) to $202.00 (from $283.00) while maintaining a Hold rating.

The analyst comments "We have lowered our revenue outlook from positive to negative growth, while keeping adj EPS relatively intact. Mgmt's tone was much more subdued than in prior quarters, when there was belief in a 2H24 recovery. Client conversations remain productive, but near-term budget concerns continue to outweigh willingness to invest in the next generation of technologies. The stock has likely over-reacted as we believe revised guidance has been de-risked."

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