On Nov 01, major Wall Street analysts update their ratings for $Parsons (PSN.US)$, with price targets ranging from $117 to $130.
Jefferies analyst Sheila Kahyaoglu maintains with a buy rating, and adjusts the target price from $110 to $130.
TD Cowen analyst Cai von Rumohr maintains with a buy rating, and maintains the target price at $117.
Baird analyst Andrew Wittmann maintains with a buy rating, and adjusts the target price from $103 to $125.
KeyBanc analyst Sangita Jain maintains with a buy rating, and adjusts the target price from $116 to $122.
Truist Financial analyst Tobey Sommer maintains with a buy rating, and maintains the target price at $130.
Furthermore, according to the comprehensive report, the opinions of $Parsons (PSN.US)$'s main analysts recently are as follows:
The firm noted that the company's results significantly exceeded already high expectations. With an organic growth rate of 26% surpassing the average estimates, this was supported by high-margin work in the cyber and intelligence sectors. A book-to-bill ratio of 1.0x is considered reasonable given the company's high rate of project execution.
Parsons reported quarterly adjusted EBITDA that surpassed expectations and increased its 2024 guidance beyond the extent of the beat. The company continues to secure substantial transportation design contracts with higher margins, which are anticipated to lead to robust organic growth in the future.
Here are the latest investment ratings and price targets for $Parsons (PSN.US)$ from 6 analysts:
Note:
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