RBC Capital reiterated an Outperform rating on Booz Allen Hamilton (NYSE: BAH), and raised the price target to $34.00 (from $32.00), following the company's 2Q16 earnings results. BAH reported Adjusted EPS of $0.39, which was 3c better than consensus estimates.

Analyst Steven Cahall commented, "BAH reported F2Q16 GAAP/Adj. EPS of $0.37/$0.39, which was 11% better than our and consensus estimates. The beat was driven by a strong topline of $1.3bn, 6% above expectations and +1% y/y despite SURVIAC headwinds. EBIT margins were in-line at 8.2%, and results were also helped slightly by a 38.2% tax rate. BAH has reiterated its FY16 guidance for sales growth y/y of +/-2%, GAAP EPS of $1.55-$1.65 and Adjusted EPS of $1.60-$1.70."

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Shares of Booz Allen Hamilton closed at $30.30 yesterday.