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.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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