Wells Fargo analyst Matthew Akers lowered the firm’s price target on Booz Allen (BAH) to $177 from $206 and keeps an Overweight rating on the shares. The firm sees pressure on federal spending from here, but risk-reward looks attractive with 40%-50% upside in status quo spending scenario. Given cautious commentary from Wells’ D.C. contacts, the firm now assumes flat spending for both DoD O&M and civil discretionary off of a FY25 budget, which is now mostly fully baked.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
