Booz Allen price target raised to $170 from $155 at Stifel

Stifel raised the firm’s price target on Booz Allen to $170 from $155 and keeps a Buy rating on the shares. The run for Booz is “likely not over as AI, cyber and IT modernization remain in focus for the government,” the analyst tells investors. The firm, which sees upside to current projected spending levels and a favorable near-term setup on the back of the recently appropriated budget and supplemental spending packages, thinks that better-than-expected growth will “continue to overshadow the loftier multiple.”