KeyBanc raised the firm’s price target on Parsons (PSN) to $82 from $73 and keeps an Overweight rating on the shares as the firm factors in a higher target multiple following a guidance reset to exclude the confidential contract. Clarity on the confidential program is a plus, but KeyBanc remains cautious around the pace and timing of federal contract awards, including the FAA radar modernization project.
Claim 55% 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’ Sealing Technologies boosts production of DoD Cyber Hunt Kits
- Dubai’s RTA selects Parsons as project management consultant
- CACI downgraded to Market Perform from Outperform at Raymond James
- Parsons upgraded to Strong Buy from Market Perform at Raymond James
- Parsons price target raised to $80 from $70 at Jefferies