Bank of America has revised its price target for Parsons Corporation (PSN, Financial), lowering it from $110 to $100 while maintaining a Buy rating on the stock. This adjustment is part of a broader reevaluation of the defense services sector, reflecting recent market devaluation and investor sentiment towards these industries amid potential geopolitical risks.
The analyst responsible for the update notes that the market's reaction to these developments might be excessive, suggesting that investors may be missing potential long-term opportunities within the sector. Despite the reduced price target, the firm expresses confidence in Parsons' prospects, highlighting that the current downturn could be overstated.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Parsons Corp (PSN, Financial) is $79.45 with a high estimate of $100.00 and a low estimate of $58.00. The average target implies an upside of 23.13% from the current price of $64.53. More detailed estimate data can be found on the Parsons Corp (PSN) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Parsons Corp's (PSN, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Parsons Corp (PSN, Financial) in one year is $78.27, suggesting a upside of 21.29% from the current price of $64.53. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Parsons Corp (PSN) Summary page.
