Epam Systems price target lowered to $160 from $175 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Epam Systems (EPAM) to $160 from $175 and keeps an Equal Weight rating on the shares. A lower-than-expected 2026 outlook and “slightly muted” budgetary commentary pushed shares down 17%, notes the analyst, who views the muted budget growth commentary, offset by reassuring pricing remarks, as having “a mixed read-through” for the broader IT Services group.