UBS analyst Gavin Parsons raised the firm’s price target on Booz Allen (BAH) to $119 from $115 and keeps a Neutral rating on the shares. A lot of uncertainty is already priced in, but UBS has “limited confidence” in a second half acceleration implied by guidance given the 8% sequential decline in the funded backlog and a still volatile customer/award environment, the analyst tells investors in a research note.
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