Citi analyst Ashwin Shirvaikar upgraded Accenture (ACN) to Buy from Neutral and raised his price target for the shares to $169 from $161. Against a backdrop of rising political and policy risks, a more defensive Information Technology Services stance is appropriate, Shirvaikar tells investors in a research note. The analyst recommends not looking for cheaper valuations, but for companies that are the most relevant to their clients. His top idea remains Epam Systems (EPAM) and he upgrades Accenture to Buy on the belief that the company is the "best-positioned traditional player."

Barclays analyst Ramsey El-Assal lowered the firm's price target on Epam Systems to $265 from $315 and keeps an Equal Weight rating on the shares. Peer results point to continued softness in discretionary spend, the analyst tells investors in a research note. While solid bookings support longer-term growth, pressure in small deals adds downside-risk to Q1 results, says the firm.

IBM (IBM) is scheduled to report results of its fiscal first quarter after the market close on April 24, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here