Cowen Assumes Coverage on Prospecta (PRSP), Downgrades to Market Perform
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Cowen analyst Gautam Khanna assumes coverage on Prospecta (NYSE: PRSP) with a Market Perform rating (from Outperform) and a price target of $26.00 (from $28.00).
The analyst comments "Perspecta's underlying momentum is strong, but the stock's risk-reward into the binary NGEN-R recompete award (circa H2; 17% of sales/EBITDA) is uncompelling, in our view."
Shares of Prospecta closed at $23.58 yesterday.
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