Parsons: The Stock Is Not Cheap Enough Yet [Seeking Alpha]
Parsons Corporation (PSN)
Last parsons corporation earnings: 3/10 06:30 am
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Source: Seeking Alpha
The Company's strong execution and focus on technical expertise indicate potential for margin expansion and continued conversion of its pipeline. Investment Action I recommended a hold rating for Parsons Corp. ( NYSE: PSN ) when I wrote about it the last time, as I believed the upside was not attractive enough despite the visibility into near-term performance. Based on my current outlook and analysis of PSN, I continue to recommend a hold rating. The main reason for my hold rating is that the upside remains limited despite my optimistic growth and multiple assumptions. Fundamentally, PSN business quality is indeed improving, and I am definitely interested in investing in the stock at some point when it is cheaper (probably when it is nearer to its historical average, where the market has adjusted growth expectations to a high single-digit percentage). Review PSN ended the year strong with 4Q23 revenue organic growth of 34% to $1.5 billion, which is 13 points above the market'
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PSN
News
- Parsons Co. (NYSE: PSN) was upgraded by analysts at TD Cowen from a "hold" rating to a "buy" rating. They now have a $90.00 price target on the stock, up previously from $77.00.MarketBeat
- Parsons Corporation (NYSE:PSN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Parsons Co. (NYSE: PSN) had its price target raised by analysts at Robert W. Baird from $85.00 to $89.00. They now have an "outperform" rating on the stock.MarketBeat
- Parsons Co. (NYSE: PSN) was upgraded by analysts at Raymond James from an "outperform" rating to a "strong-buy" rating. They now have a $95.00 price target on the stock, up previously from $82.00.MarketBeat
- Parsons (PSN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
PSN
Earnings
- 5/1/24 - Beat
PSN
Sec Filings
- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/22/24 - Form 8-K
- PSN's page on the SEC website