Parsons price target raised to $80 from $70 at Truist

Truist raised the firm’s price target on Parsons (PSN) to $80 from $70 and keeps a Buy rating on the shares after its Q1 results and guidance. The company reported mixed Q1, but while its Q2 outlook was below the Street, management reiterated 2025 guidance, implying a return to strong growth in the second half of the year, the analyst tells investors in a research note. Truist adds that it favors Parsons’ position with only 56% related to U.S. Federal funding and little-to-zero exposure to consulting work.