BofA raised the firm’s price target on Parsons to $70 from $65 and keeps a Buy rating on the shares after the company reported “record” organic revenue growth of 23%, including greater than 20% organic growth in both reporting segments. The firm raised 2023 and outyear EPS estimates given the strong performance and cites continued strong growth expectations, upside opportunities from M&A, and positive end-market sentiment for its increased target.
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