Parsons upgraded to Strong Buy from Market Perform at Raymond James

Raymond James double upgraded Parsons (PSN) to Strong Buy from Market Perform with a $90 price target with the June quarter in the books, the Big Beautiful Bill signed into law, and significant stock volatility continuing. The firm sees estimates de-risked, opportunities with the FAA, Golden Dome, nuclear opportunities, and is hopeful that easing war-tempo will create rebuilding opportunities and for Parsons to keep its core and non-confidential contract growing in the low double digits to mid teen rates, the analyst tells investors in a research note. The firm also downgraded CACI (CACI) to Market Perform.