Parsons resumed with a Buy at Stifel

Stifel analyst Jonathan Siegmann resumed coverage of Parsons (PSN) with a Buy rating and $81 price target The firm likes Parsons’ “purpose-built portfolio” of businesses focused on growing areas of government investments. The company’s critical infrastructure stands to benefit from a ramp in projects in the Middle East as well as the U.S., the analyst tells investors in a research note. Stifel says its Buy rating reflects Parson’s premium valuation being justified through its ongoing financial outperformance and growing exposure to new defense areas.