EPAM Systems rises as TD Cowen upgrades, citing 'recovering growth'

[industrial computer control system mounted in rack]
genkur/iStock via Getty Images

* EPAM Systems (NYSE:EPAM [https://seekingalpha.com/symbol/EPAM]) shares were in the spotlight on Monday as investment firm TD Cowen upgraded the software company, citing its “recovering growth.”
* Shares rose 2.3% in premarket trading.
* “We think EPAM's share price gives little to no credit for the company's recovering growth trajectory & meaningful completion of its global delivery reorganization,” TD Cowen analyst Bryan Bergin wrote in a note to clients. "While Services sector sentiment is poor, EPAM's accelerating organic growth, trough in profitability, active capital allocation, and discounted valuation make for an attractive risk-reward (2:1), in our view."
* Bergin upgraded EPAM shares to Buy from Hold and upped the price target to $205 from $192.
* In addition, Bergin said that EPAM's growth should continue to rise into the high single-digits in 2026, while the stock should be aided by a combination of a stronger fundamentals and rising valuation, based on improving investor confidence.
* "We think sector sentiment is pressured by a perfect storm of cyclical factors & secular fears – and this requires patience – but that it will ultimately improve with sector growth recovery,” Bergin added.

MORE ON EPAM SYSTEMS

* EPAM Systems: Growth Acceleration Shouldn't Be Ignored (Rating Upgrade) [https://seekingalpha.com/article/4812939-epam-systems-stock-growth-acceleration-shouldnt-be-ignored-rating-upgrade]
* EPAM Systems, Inc. (EPAM) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4810669-epam-systems-inc-epam-q2-2025-earnings-call-transcript]
* EPAM Systems: Quiet Rebuild, Strategic Upside, And A Patient Investor's Opportunity [https://seekingalpha.com/article/4794059-epam-quiet-rebuild-strategic-upside-and-a-patient-investors-opportunity]
* EPAM outlines 13–15% revenue growth target for 2025 as CEO transition and AI initiatives accelerate [https://seekingalpha.com/news/4482144-epam-outlines-13-15-percent-revenue-growth-target-for-2025-as-ceo-transition-and-ai]
* EPAM Systems Non-GAAP EPS of $2.77 beats by $0.16, revenue of $1.35B beats by $20M [https://seekingalpha.com/news/4481080-epam-systems-non-gaap-eps-of-2_77-beats-by-0_16-revenue-of-1_35b-beats-by-20m]