Truist analyst Tobey Sommer lowered the firm’s price target on Parsons (PSN) to $90 from $100 and keeps a Buy rating on the shares. The firm cites the announcement of competitor Peraton as FAA ATC prime integrator and notes that the decision could come as a surprise to investors, expecting shares to be under pressure today, the analyst tells investors in a research note. While Parsons should be a “winner” in the Big Beautiful Bill funding cycle, the company has less defined catalysts now and could need meaningful tangible wins, the firm added.
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