Parsons Corporation Secures Over $100M in Contracts, Boosting Transportation and Defense Growth
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Transportation Project Enhancement: Parsons Corporation secured a design contract from the VIA Metropolitan Transit Authority for the final design of the San Antonio VIA Rapid Silver Line, with an estimated total investment of approximately $322 million, aimed at improving daily mobility across the city and further expanding its market share in large-scale transit development.
- Defense Contract Expansion: The company received a task order valued at over $100 million from Nammo to support the design and construction management of a new rocket motor facility in Florida, which strengthens domestic munitions supply chains and highlights its significant role in defense modernization initiatives.
- Growing Project Backlog: The acquisition of these contracts signifies a continued increase in Parsons' project backlog, indicating strong momentum in both civil and national security sectors, which is expected to support future revenue growth.
- Positive Stock Reaction: Following the contract announcements, Parsons' stock rose by 2.56% in premarket trading to $63.76, reflecting market optimism regarding its business expansion and future prospects.
Analyst Views on PSN
Wall Street analysts forecast PSN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSN is 84.00 USD with a low forecast of 70.00 USD and a high forecast of 107.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 72.360
Low
70.00
Averages
84.00
High
107.00
Current: 72.360
Low
70.00
Averages
84.00
High
107.00
About PSN
Parsons Corporation is a disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Its Federal Solutions segment provides advanced technical solutions to the United States government. This segment provides advanced technologies, supporting national security missions in cyber operations, missile defense, and military facility modernization, logistics support, hazardous material remediation and engineering services. Its Critical Infrastructure segment offers integrated engineering and management services for complex physical and digital infrastructure around the globe. This segment is a technology innovator focused on next-generation digital systems and complex structures. It also develops advanced, warfighter-focused solutions for military and security applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
