William Blair Downgrades Parsons Corp. (PSN) to Market Perform

William Blair analyst Louis DiPalma downgraded Parsons Corp. (NYSE: PSN) from Outperform to Market Perform.

The analyst comments: "Even though Parsons has been executing exceptionally well, we are downgrading our rating on Parsons shares to Market Perform to reflect elevated risk associated with the company’s classified humanitarian aid U.S. State Department contract that is up for renewal (an option extension) in the first quarter. Parsons indicated on its earnings call that it has 2025 recompete risk of 5% to 15%, which could imply that the contract represents approximately 10% of total revenue"

For an analyst ratings summary and ratings history on Parsons Corp. click here. For more ratings news on Parsons Corp. click here.

Shares of Parsons Corp. closed at $94.86 yesterday.

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