UPDATE: Goldman Sachs Downgrades Parsons Corp. (PSN) to Neutral

April 4, 2021 10:53 PM EDT
Get Alerts PSN Hot Sheet
Price: $33.98 -0.85%

Rating Summary:
    5 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 15 | New: 62
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(Updated - April 5, 2021 4:51 AM EDT)

Goldman Sachs analyst Gavin Parsons downgraded Parsons Corp. (NYSE: PSN) from Buy to Neutral with a price target of $43.00.

The analyst comments "We downgrade PSN to Neutral from Buy, as 1) PSN is likely to under-grow peers near-term and current bookings/backlog do not yet support growth despite attractive exposures; 2) the pace of organic margin expansion is slower than we previously expected; and 3) the stock has re-rated despite disappointing 2021 guidance and is now near our price target, potentially reflecting optimism around exposure to a potential infrastructure bill."

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 $40.44 yesterday.


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