Jefferies Reiterates Buy on Booz Allen Hamilton (BAH); Employee Charged with Stealing Classified Secrets from NSA
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Jefferies reiterated a Buy rating and $37.00 price target on Booz Allen Hamilton (NYSE: BAH) following reports that the FBI has arrested a contractor for NSA, who was employed by the company. The FBI has charged Harold Martin, 51 years old, of Glen Burnie, MD, with stealing classified secrets from National Security Agency (NSA), part of what officials said was a probe into how key U.S. computer-spying tools were removed from the NSA. The investigation into Mr. Martin's alleged theft is still ongoing and Jefferies believes that it is too early to say if BAH's business will face any impact.
Analyst Amit Singh commented, "Yesterday, news media reported that FBI has arrested a contractor for NSA, who was employed by BAH, on charges of stealing classified secrets. While it is too early to say if BAH will face any impact from this event, we note that BAH faced a similar event in 2013, when Mr. Snowden (then a BAH employee) leaked details of secret gov't programs. That event had no impact on BAH's business, and only a short-term impact on stock."
Shares of Booz Allen Hamilton closed at $30.31 yesterday.
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