Parsons price target raised to $94 from $83 at Stifel

Stifel analyst Jonathan Siegmann raised the firm’s price target on Parsons (PSN) to $94 from $83 and keeps a Buy rating on the shares. The company’s Q3 results were “mostly” okay as strong margins offset revenues that were short of estimates, the analyst tells investors in a research note. While the firm is not yet seeing an acceleration of new awards in the Federal Solutions segment, it believes the stock is responding favorably to Parsons’ suggestion that the FAA’s decision on its multi-billion dollar modernization award is not impacted by the government shutdown and may occur imminently.