On December 7, 2021, traders front ran EPAM stock after the company announced its inclusion in the S&P 500.
Epam Systems to replace Kansas City Southern in S&P 500 at open on December 14, 2021
EPAM Systems Inc. (NYSE:EPAM) will replace Kansas City Southern (NYSE: KSU) in the S&P 500 effective prior to the opening of trading on Tuesday, December 14. Canadian Pacific Railway Limited (NYSE and TSX: CP) is acquiring Kansas City Southern in a transaction expected to be completed on or about that date pending final approvals.
Following is a summary of the changes that will take place prior to the open of trading on the effective date:
Epam Systems upgraded to Buy on recent correction at VTB Capital
On November 23, 2021, VTB Capital analyst Vladimir Bespalov upgraded Epam Systems to Buy from Hold with an unchanged price target of $750. The stock has declined 14% from its recent peak, which tilts the “balance of risks to the upside,” Bespalov tells investors in a research note. The analyst believes Epam’s “strong” growth prospects remain intact and that the recent correction bring an opportunity to increase positions in this “fundamentally strong long-term story”.
EPAM Stock Technical Analysis
When comparing the yearly performance of all stocks, we notice that EPAM is one of the better-performing stocks in the market, outperforming 91% of all stocks. We also observe that the gains produced by EPAM over the past year are nicely spread over this period. The short-term trend is negative, the long-term trend is neutral. Not much exciting going on here. There is a resistance zone ranging from 622.32 to 636.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. EPAM has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when EPAM stock is a good entry.