KeyBanc raised the firm’s price target on Parsons (PSN) to $87 from $84 to reflect a higher multiple, while keeping an Overweight rating on the shares. Last week, the firm hosted Parsons CEO Carey Smith and CFO Matt Ofilos for a day of meetings. As expected, a significant focus was on the upcoming FAA award, Parsons’ scope and margin profile, and the deliverables if the company were to be the winner.
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