Parsons Corp. (PSN) PT Raised to $93 at KeyBanc

KeyBanc analyst Sangita Jain raised the price target on Parsons Corp. (NYSE: PSN) to $93.00 (from $87.00) while maintaining an Overweight rating.

The analyst commented: "We remain OW on PSN, and raise our PT to $93 (from $87) as we factor in a higher target multiple as the dust clears on the confidential contract, potential for continued margin expansion, and PSN’s potential role as an integrator in the upcoming FAA ATC contract (detailed here). The CI segment continues its growth path with strong exposure to the Middle East and a growing domestic base. As the legacy projects in CI finish, and CI becomes a larger piece of the business (~50% in 2025E vs. ~40% in 2024), we should see a continued upward trend in margins from the core business."

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