TD Cowen Upgrades Parsons (PSN)
Fintel reports that on May 3, 2024, TD Cowen upgraded their outlook for Parsons (NYSE:PSN) from Hold to Buy.
Analyst Price Forecast Suggests 9.97% Upside
As of May 2, 2024, the average one-year price target for Parsons is 86.29. The forecasts range from a low of 68.68 to a high of $105.00. The average price target represents an increase of 9.97% from its latest reported closing price of 78.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Parsons is 4,735MM, a decrease of 18.43%. The projected annual non-GAAP EPS is 2.43.
What is the Fund Sentiment?
There are 602 funds or institutions reporting positions in Parsons. This is an increase of 63 owner(s) or 11.69% in the last quarter. Average portfolio weight of all funds dedicated to PSN is 0.27%, an increase of 3.91%. Total shares owned by institutions increased in the last three months by 3.43% to 114,876K shares. 
The put/call ratio of PSN is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
Newport Trust holds 58,994K shares representing 55.74% ownership of the company. In its prior filing, the firm reported owning 59,791K shares , representing a decrease of 1.35%. The firm decreased its portfolio allocation in PSN by 1.34% over the last quarter.
T. Rowe Price Investment Management holds 4,002K shares representing 3.78% ownership of the company. In its prior filing, the firm reported owning 3,991K shares , representing an increase of 0.26%. The firm increased its portfolio allocation in PSN by 6.41% over the last quarter.
Earnest Partners holds 2,603K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 2,716K shares , representing a decrease of 4.37%. The firm decreased its portfolio allocation in PSN by 4.30% over the last quarter.
Invesco holds 1,802K shares representing 1.70% ownership of the company. In its prior filing, the firm reported owning 440K shares , representing an increase of 75.59%. The firm decreased its portfolio allocation in PSN by 61.94% over the last quarter.
Mackenzie Financial holds 1,753K shares representing 1.66% ownership of the company. In its prior filing, the firm reported owning 2,493K shares , representing a decrease of 42.21%. The firm decreased its portfolio allocation in PSN by 26.64% over the last quarter.
Parsons Background Information
(This description is provided by the company.)
Parsons is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities.
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This story originally appeared on Fintel.