Guggenheim bullish on EPAM Systems stock on tech demand recovery

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Tuesday, Guggenheim initiated coverage on EPAM Systems stock (NYSE:EPAM), a leading provider of digital platform engineering and software development services, with a Buy rating and a price target of $350.00. The investment firm highlighted EPAM’s strong positioning to benefit from an anticipated demand recovery in the technology sector.

EPAM’s focus on digital enablement was cited as a key factor for the optimistic outlook. According to the firm, despite the current market uncertainties, the company’s strategic direction is expected to drive future growth.

The coverage comes at a time when the tech industry is navigating through a period of uncertainty. However, the firm’s analysis suggests that EPAM’s offerings are well-aligned with the market’s evolving needs, particularly in areas that facilitate digital transformation for businesses.

EPAM Systems, which has not publicly responded to the new coverage, continues its operations focused on providing innovative solutions to its global clientele. The company’s dedication to digital enablement services is expected to play a pivotal role in its trajectory as markets recover.

The $350.00 price target set by Guggenheim reflects a positive outlook for EPAM Systems’ shares in the foreseeable future.

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