EPAM Systems Inc (EPAM) shares are soaring in pre-market trading on Monday, jumping 5.52% following positive analyst actions. The software engineering and IT consulting services provider is seeing increased confidence from Wall Street, driving investor enthusiasm.
Barclays has raised its price target on EPAM Systems from $200 to $215, maintaining an Overweight rating on the shares. This upgrade represents a 7.5% increase in the firm's valuation of the company. Meanwhile, Mizuho has also adjusted its price target upwards, moving from $218 to $224, while maintaining an Outperform rating. These bullish moves from prominent analysts suggest growing optimism about EPAM's future prospects.
The positive sentiment is further reinforced by the broader analyst consensus. According to FactSet, EPAM Systems currently holds an average rating of Overweight, with a mean price target of $213.69. This collective bullish stance from Wall Street appears to be a key driver behind today's significant stock price surge. Investors will be watching closely to see if EPAM can maintain this momentum and deliver on the high expectations set by analysts.
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