Parsons price target raised to $73 from $70 at Stifel

Stifel raised the firm’s price target on Parsons to $73 from $70 and keeps a Buy rating on the shares. The firm recently visited the company’s Middle East headquarters and met with senior leaders of the Critical Infrastructure segment, the analyst tells investors. The Middle East has been a major driver of 2023 results and, encouragingly, that growth does not seem to be abating as large-scale investments complement the continued expansion in the UAE, the firm say. The company’s footprint in the region is expanding and should support economic diversification.