Jefferies analyst Sheila Kahyaoglu raised the firm’s price target on Parsons to $80 from $75 and keeps a Buy rating on the shares after having hosted management meetings that included the CEO, CFO and SVP of IR. Competitive win rates have increased and the backlog grew to $8.8B in Q3 with unbooked of $14B. About 50% of this is expected to convert through 2026 with an assumed program run-off rate of 30%, adding a combined $500M to sales in FY26, the analyst tells investors.
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