BofA analyst Mariana Perez Mora raised the firm’s price target on Parsons to $83 from $70 and keeps a Buy rating on the shares after the company reported a quarter of “impressive organic growth.” As a result of a strong 2023, management increased the 2025 targets set forth at the investor day, notes the analyst, who sees a path to stronger margins driven by de-risking and sunsetting lower-margin contracts, margin-accretive M&A and disciplined cost management.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PSN:
- Parsons’ Strategic Financing and Stock Repurchase Initiatives
- Parsons Wins Seat on $245M U.S. Army Corps of Engineers Contract for Environmental Remediation
- Parsons announces $800M convertible senior note offering
- Parsons’ $800 Million Convertible Senior Note Offering
- Parsons prices $700M of convertible senior notes due 2029