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On Tuesday, Guggenheim initiated coverage on shares of EPAM Systems (NYSE:EPAM), a leading provider of digital platform engineering and software development services, with a Buy rating and a $350.00 price target. The investment firm highlighted EPAM's strong position to benefit from the expected recovery in demand in the technology sector.
EPAM's focus on digital enablement was cited as a key factor in its optimistic outlook. The company says its strategic direction is expected to drive future growth despite current market uncertainties.
The news comes at a time of uncertainty for the technology industry. However, the company's analysis shows that EPAM's services are well-aligned with evolving market needs, particularly in the area of ​​accelerating the digital transformation of enterprises.
EPAM Systems has not publicly responded to the new reports, but remains focused on providing innovative solutions to customers around the world. The company's digital enablement services efforts are expected to play a pivotal role in the company's trajectory as the market recovers.
The $350.00 price target set by Guggenheim reflects a positive outlook for EPAM Systems stock for the foreseeable future.
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