Jefferies downgraded Parsons (PSN) to Hold from Buy with a price target of $65, down from $75. The company is “stuck in tough spot” as a Confidential Program ramped more than expected and there were limited disclosures available, the analyst tells investors in a research note. The firm says the Confidential Program risk is “undeniable” and overshadows the underlying double-digit organic growth profile of the rest of Parsons’s portfolio through 2026.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSN:
- Parsons’ Hold Rating: Balancing Strong Core Growth Against CP Revenue Decline
- Jefferies aerospace,defense analysts hold analyst/industry conference call
- UPS downgraded, ServiceNow upgraded: Wall Street’s top analyst calls
- Parsons price target raised to $80 from $70 at Truist
- Parsons downgraded to Neutral from Outperform at Baird
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue