Parsons price target lowered to $90 from $130 at Benchmark

Benchmark lowered the firm’s price target on Parsons (PSN) to $90 from $130 and keeps a Buy rating on the shares. While the firm has lowered its target to reflect the reality of industry multiples as DOGE fears peak, it views Parsons as “a baby-out-with-the-DOGE-water buying opportunity,” the analyst tells investors. Parsons is “a leader” as far as names within the group with several catalysts ahead, limited DOGE exposure, and likely long-term net gains from an industry more focused on efficiency, the analyst tells investors.