Stifel raised the firm’s price target on Booz Allen to $140 from $127 and keeps a Buy rating on the shares after the company hosted analysts and investors for an AI-focused event. Booz noted they consider 2,200 staff to be “AI staff”, which was far greater than our 625 person estimate, and 80% of AI staff are considered cleared. That “highlights Booz’s first-mover advantage in building an enterprise-level AI sales platform,” which is key to the investment thesis, the analyst tells investors. While the shares “may be looked at as expensive,” the firm thinks AI will represent a material earnings driver for Booz in FY25 and beyond that should result in additional upside.
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