Parsons upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded Parsons (PSN) to Buy from Neutral with a price target of $111, up from $103. Parsons is unique in the peer group in that 40% of the company is critical infrastructure, which is currently seeing strong growth, the analyst tells investors in a research note. The firm expects this spending will be unaffected by the government spending reduction efforts under a President Trump. Parsons’ new win rate has been high, driving the fastest growth in the industry, adds Goldman.