4 big analyst cuts: One more downgrade for EPAM stock

Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at EPAM Systems, Las Vegas Sands, Solid Power, and Carrier Global.

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EPAM receives its sixth downgrade this week

Morgan Stanley downgraded EPAM Systems (NYSE:) to Equalweight from Overweight and cut its price target to $220.00 from $350.00, as InvestingPro reported in real time. Shares fell more than 1% pre-market today.

This is an addition to a series of five downgrades received this week after the company lowered its Q2/23 and full-year guidance due to further deterioration in the near-term demand environment, which resulted in a share price drop of more than 21% on Monday.

Las Vegas Sands downgraded to Hold

Las Vegas Sands (NYSE:) shares fell more than 1% pre-market today after Jefferies downgraded the company to Hold from Buy and cut its price target to $65.00 from $69.00.

The firm believes the bull and bear cases are approximately balanced within the shares at present levels, and absent near-term catalysts, it expects the shares to remain range-bound.

2 more downgrades

Wolfe Research downgraded Solid Power (NASDAQ:) from Peerperform to Underperform with a price target of $2.00.

Morgan Stanley downgraded Carrier Global (NYSE:) to Equalweight from Overweight and lowered its price target to $47.00 from $49.00. Shares are down more than 1% pre-market today.

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