Booz Allen price target lowered to $135 from $148 at Wells Fargo

Wells Fargo lowered the firm’s price target on Booz Allen (BAH) to $135 from $148 and keeps an Overweight rating on the shares. The impact from civil funding cuts was unexpected, and given back half weighted guidance, the firm thinks investors will likely remain cautious for the near term. Stock still looks like a bargain longer term, even with little spending growth, Wells adds.