Parsons price target raised to $84 from $74 at Truist

Truist raised the firm’s price target on Parsons to $84 from $74 and keeps a Buy rating on the shares. The company reported an extremely impressive Q4, with record organic growth rates that would have been viewed as wildly unrealistic for any mature government contractor a year ago, the analyst tells investors in a research note. Lofty expectations also mean that Parsons needs to deliver double-digit organic growth and at least 40bps of margin expansion next year, the firm added.