Parsons price target raised to $85 from $75 at Truist

Truist raised the firm’s price target on Parsons (PSN) to $85 from $75 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Government Services names. The firm is cautious on the sector heading into earnings due to potential near-term risk estimates for Middle East exposure and sub-par book-to-bill from the war, though it also believes that investors should focus on companies with Defense/Admin priority alignment, the analyst tells investors in a research note. Saudi Arabia could act as a meaningful stabilizer for Parsons’ Middle East exposure, even as other Gulf states introduce longer-term risk, Truist added.