Booz Allen faces uncertainty heading into 2026, says BofA

BofA analyst Mariana Perez Mora keeps an Underperform rating on Booz Allen (BAH) with a $90 price target heading into 2026. The company’s civil business faces more potential downside while the upcoming exit of CFO Matt Calderone “may be the cause of some hesitancy and uncertainty,” the analyst tells investors in a research note. Heading into 2026, BofA expects defense and intelligence funding to remain strong, while civilian agency funding “remains a question mark.”