KeyBanc analyst Sangita Jain lowered the firm’s price target on Parsons (PSN) to $102 from $122 and keeps an Overweight rating on the shares. Given DOGE and fears of slowing growth, the firm thinks the multiple has reset to reflect the go-forward growth outlook. KeyBanc still believes Parsons could be positioned for double digits organic revenue growth given its exposure to large IIJA projects, ongoing momentum in the Middle East, growing pipeline, high win rates, and alignment to national defense priorities.
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