Morgan Stanley Trims Price Target on EPAM Systems, Inc. (EPAM) to $160, Keeps Equal Weight Rating

EPAM Systems, Inc. (NYSE:EPAM) is among the 10 Best Magic Formula Stocks for 2026. Morgan Stanley on February 20 cut its price target on the stock to $160 from $175, while maintaining an Equal Weight rating.

The adjustment followed the company’s fourth-quarter earnings call a day earlier, during which it forecast Q1 2026 earnings in line with Wall Street’s estimates but appeared conservative to investors and analysts.

Shares slumped 16% in premarket trading, which Morgan Stanley attributed to the cautious outlook for 2026. The firm also described the budgetary commentary as ‘slightly muted’, in a research note to analysts.

EPAM Systems, Inc. (NYSE:EPAM) anticipates revenue in the range of $1.38 billion to $1.40 billion for the first quarter, adjusted profit expected between $2.70 and $2.78 per share.

On the same day, Goldman Sachs analyst James Schneider trimmed the price target on the stock to $235 from $250. However, the firm described the share price slump as an overreaction and reiterated a Buy rating on the stock.

EPAM Systems, Inc. (NYSE:EPAM) is a leading provider of digital and AI transformation services worldwide.

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