Here's What Made Piper Sandler Incrementally Positive On EPAM

Piper Sandler analyst Arvind Ramnani hosted EPAM Systems, Inc EPAM CFO Jason Peterson and Head of IR David Straube for investor meetings and came away incrementally more positively.
In particular, EPAM traded at a discount due to the ongoing conflict.
Ramnani believes it has the operational discipline to navigate near-term challenges and emerge a stronger EPAM in the medium/long term.
EPAM reallocated resources from the Ukraine/Russia region and rapidly expanded its geographical footprint in the near term.
Over the next 2-3 years, Ramnani saw EPAM as more diversified, with a prominent presence in India and LATAM positioning EPAM as a global Digital Services leader, enabling it to take on larger clients.
On balance, cultural integration and its software-centric approach were risks that Ramnani monitored, which were essential attributes for EPAM to maintain its premium digital offering that helped define its growth trajectory.
Ramnani maintained an Overweight rating with a price target of $403.
Price Action: EPAM shares traded lower by 2.15% at $334.32 on the last check Wednesday.

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