KeyBanc raised the firm’s price target on Parsons to $79 from $74 and keeps an Overweight rating on the shares. The firm notes the company reported stronger than expected Q4 results, provided above-consensus 2024 guidance, and raised 2025 targets given less than a year ago. The margin expansion story remains on track, and 1-time leverage should enable Parsons to ramp the M&A program, KeyBanc adds.
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