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EPAM Systems, Inc. (NYSE:EPAM) is one of the top cheap stocks to buy with the biggest upside potential. EPAM Systems, Inc. (NYSE:EPAM) received a rating update from Guggenheim on May 4, with the firm cutting the price target on the stock to $200 from $225 and reiterating a Buy rating on the shares. Guggenheim told investors in a preview that it expects underlying business momentum to remain stable in fiscal Q1 as channel checks continue to suggest clients view the company as “a quality vendor to help realize tangible AI goals”. However, the firm also stated that risks to the fiscal Q2 revenue outlook amid a softer demand environment led the firm to lower its target.

EPAM Systems, Inc. (NYSE:EPAM) also received a rating update from Susquehanna the same day. The firm lowered the price target on the stock to $167 from $199, and maintained a Positive rating on the shares, updating its model after reports of choppy demand. Susquehanna lowered its estimates below consensus and expects the Street to cut towards them.

EPAM Systems, Inc. (NYSE:EPAM) provides digital engineering, cloud, and artificial intelligence-enabled transformation services, combining software engineering with business consulting, customer experience design, strategy, and technology innovation services in areas such as AI, cybersecurity, and cloud platforms. The company’s operations are divided into the North America and Europe geographical segments.

While we acknowledge the potential of EPAM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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