Booz Allen price target raised to $175 from $160 at BofA

BofA analyst Mariana Perez Mora raised the firm’s price target on Booz Allen Hamilton to $175 from $160 and keeps a Buy rating on the shares. Artificial intelligence is becoming “an increasingly integral part of how the government operates” and the firm sees Booz Allen at “the forefront of AI implementation,” the analyst tells investors. AI-based work currently accounts for $600M in revenues, with the opportunity to reach $1B in the next few years, notes the analyst, who sees upside opportunity as U.S. agencies work to comply with an Executive Order issued by President Biden.