Wells Fargo lifts EPAM PT on 2026 discretionary rebound, AI upside

EPAM Systems

14/01/2026 12:29

** Wells Fargo lifts PT on IT consultancy firm EPAM Systems EPAM.N to $247 from $185

** New PT is a 16.5% upside to stock's last close

** Says results of its IT Services CIO Survey suggest EPAM is best positioned in near-term, levered more towards discretionary spending that enterprise decision-makers expect to rebound in 2026, and to AI-related work

** Adds EPAM is less dependent on more commoditized parts of the market

** Says digital focused IT services firms such as EPAM will likely benefit as more enterprises transition to the cloud

** 14 of 20 brokerages recommend "buy" or higher, others "hold"; median PT is $220 - data compiled by LSEG

** EPAM fell 12.4% in 2025

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))