5 Best Defense Stocks That Will Skyrocket

3. Parsons Corporation (NYSE:PSN)

Stock Upside Potential: 37.70%

Number of Hedge Fund Holders: 30

Parsons Corporation (NYSE:PSN) is one of the best defense stocks that will skyrocket. On April 14, Parsons Corporation (NYSE:PSN) confirmed it has been selected to provide construction management services for the Newtown Creek Combined Sewer Overflow Storage Tunnel project in New York City.

According to the New York City Department of Environmental Protection (DEP), the company is tasked with delivering a major underground infrastructure program to eliminate untreated sewer discharges into local waterways. It will provide construction management services for a large-diameter storage tunnel, tunnel dewatering pump station, and other structures. It was selected after working on more than 250 tunnels and ocean outfalls globally.

In addition, the company’s joint venture with GSI Americas has secured a $25 million contract with the United States Coast Guard (USCG). The joint venture is tasked with providing program management services to advance the USCG’s Execution Plan. The ultimate goal is to deliver transformational upgrades across Coast Guard assets, technology, and shore infrastructure.

Parsons Corporation (NYSE:PSN) is a leading technology-driven firm providing integrated solutions for the global defense, intelligence, and critical infrastructure markets. They specialize in cybersecurity, missile defense, space, geospatial intelligence, and infrastructure engineering, helping clients secure, manage, and modernize physical and digital assets. The program is crucial to improving water quality and protecting public health.