Mizuho cuts Epam target, sees buying opportunity on selloff

Mizuho lowered the firm’s price target on Epam Systems (EPAM) to $199 from $228 and keeps an Outperform rating on the shares. The company reported “strong” Q4 results but provided 2026 organic growth guidance that fell short of investor expectations, the analyst tells investors in a research note. The firm views the stock’s recent selloff as a buying opportunity, saying the soft 2026 revenue guidance is largely due to a sequential decline of Neoris’ largest customer in Q1. Mizuho continues to believe Epam’s underlying business momentum, particularly in AI, is underappreciated.