Morgan Stanley lowered the firm’s price target on Epam Systems (EPAM) to $210 from $250 and keeps an Equal Weight rating on the shares. Strong Q1 results and positive bookings momentum in early April / May encouraged management to raise the calendar year 2025 organic growth outlook, but profitability remains in focus as the firm adjusts its 2026 numbers to account for a more gradual improvement in margins, the analyst tells investors.
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