On June 3, Josh Sullivan from Benchmark Co. maintained a Buy rating on Parsons Corporation (NYSE:PSN) with a price target of $90.
The rating reflects the analyst’s optimism despite the recent withdrawal of some classified contracts with the Department of State from its 2025 revenue guidance.
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Parsons Corporation recently revised its 2025 revenue guidance from $7 billion to $7.5 billion to $6.45 billion to $6.65 billion. The analyst noted that the company released this new guidance after the uncertainty with the Department of State’s reorganization. This led the management to remove the contract projections from its yearly revenue guidance. Josh Sullivan highlighted that although the adjustment points towards a conservative outlook however, he remains confident in the company’s ability to manage its contract exposure and adapt to the geopolitical landscape.
Parsons Corporation provides advanced technology and engineering services in national security and global infrastructure.
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