BofA analyst Mariana Perez Mora lowered the firm’s price target on Parsons (PSN) to $90 from $95 and keeps a Buy rating on the shares. The firm think that the reaction to the company being beat out by Peraton for the highly anticipated Brand New Air Traffic Control System integration contract was “overdone” and that fundamentals remain strong, but sees the valuation as pressured near term and lowered its adjusted EPS estimates in outyears to reflect a slow appropriations environment post shutdown, the analyst tells investors.
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