Epam Systems price target raised to $250 from $240 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Epam Systems (EPAM) to $250 from $240 and keeps a Buy rating on the shares. The stock should extend gains following a strong quarter, particularly as the raised guidance and solid demand outlook stands out against much more cautious peer commentary, the analyst tells investors in a research note. Epam’s better-than-expected outlook reflects the company’s idiosyncratic strengths amid a softening enterprise spending environment, as management indicated that some clients have returned to Epam given its differentiated offerings and high-quality execution, the firm added.