Jefferies downgraded Parsons (PSN) to Hold from Buy with a price target of $65, down from $75. The company is “stuck in tough spot” as a Confidential Program ramped more than expected and there were limited disclosures available, the analyst tells investors in a research note. The firm says the Confidential Program risk is “undeniable” and overshadows the underlying double-digit organic growth profile of the rest of Parsons’s portfolio through 2026.
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