Goldman Sachs analyst Noah Poponak downgraded Booz Allen (BAH) to Neutral from Buy with a price target of $109, down from $150. The firm says updates from the Department of Government Efficiency has challenged its view on the shares. The DOGE contract reduction data implies that the company has been experiencing more reductions than peers, the analyst tells investors in a research note. Further, Booz has some of the toughest comps and highest valuation multiples across the sector, contends Goldman.
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