Booz Allen price target lowered to $106 from $119 at Stifel

Stifel lowered the firm’s price target on Booz Allen (BAH) to $106 from $119 and keeps a Hold rating on the shares following “tough” Q2 results. The firm noted revenue/earnings missed for the quarter and management’s outlook for the year was worse than expected for the second time in three quarters. Stifel added that the environment is not getting worse, but it is not yet normalizing for Booz Allen. Given the market environment for government services remains volatile and uncertain, the firm favors those stocks not facing the same breath of market declines, Stifel told investors.