Ending the month on an auspicious note, EPAM Systems (NYSE: EPAM) stock soared through the last week of July. With an ***** yst taking a more bullish stance on the software stock and the company reporting a new artificial intelligence (AI) collaboration, investors found plenty of reasons to pick up shares.
According to data provided by S&P Global Market Intelligence, shares of EPAM Systems rose 17.5% from the end of trading on July 24 through the close of yesterday's market session.
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Maintaining a neutral rating, Citigroup lowered its price target on EPAM Systems stock to $100 from $112 on Monday. While the more tempered view of the stock's prospects seemed negative on the surface, investors interpreted the reduced price target as a glass-half-full view.
Shares of EPAM Systems closed at $89.85 before the weekend, implying upside of over 11% from the new price target.

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