Epam Systems price target lowered to $165 from $200 at Guggenheim

Guggenheim analyst Jonathan Lee lowered the firm’s price target on Epam Systems (EPAM) to $165 from $200 and keeps a Buy rating on the shares after Q1 results came in at the high end of management’s expectations, but with less upside than historical norms, citing continued industry-wide multiple pressure for the firm’s lowered target.