U.S. Treasury Secretary Cancels Contracts with Booz Allen Hamilton
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
U.S. Secretary of the Treasury Scott Bessent announced the cancelation of all contracts with consulting firm Booz Allen Hamilton. The Treasury Department currently has 31 separate contracts with Booz Allen Hamilton totaling $4.8M in annual spending and $21M in total obligations. "President Trump has entrusted his cabinet to root out waste, fraud, and abuse, and canceling these contracts is an essential step to increasing Americans' trust in government. Booz Allen failed to implement adequate safeguards to protect sensitive data, including the confidential taxpayer information it had access to through its contracts with the Internal Revenue Service," said Secretary Bessent. Shares of Booz Allen are down $6.86, or 7%, to $95.37 following the announcement.
Discover Tomorrow's Bullish Stocks Today
Receive free daily stock recommendations and professional analysis to optimize your portfolio's potential.
Sign up now to unlock expert insights and stay one step ahead of the market trends.
Analyst Views on BAH
Wall Street analysts forecast BAH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BAH is 99.20 USD with a low forecast of 80.00 USD and a high forecast of 160.00 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.
12 Analyst Rating
2 Buy
7 Hold
3 Sell
Hold
Current: 91.100
Low
80.00
Averages
99.20
High
160.00
Current: 91.100
Low
80.00
Averages
99.20
High
160.00
About BAH
Booz Allen Hamilton Holding Corporation is the parent company of management and technology consulting and engineering services firm, Booz Allen Hamilton Inc. It provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services to U.S. and international governments. Its solutions include artificial intelligence, cloud, digital customer experience, elite training, enterprise DevSecOps, JADC2, mission readiness, security and workforce of the future. It supports critical missions for a range of federal government clients, including nearly all the U.S. government's cabinet-level departments, as well as for commercial clients, both domestically and internationally. It supports its federal government clients by helping them tackle challenges such as protecting soldiers in combat and supporting their families. It also provides technologies to evolve defense missions and delivers solutions to warfighters in the digital battlespace.
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.
Trump Family Sues IRS for $10 Billion Over Tax Information Leak
- Lawsuit Background: Donald Trump and his family have filed a lawsuit against the IRS and the U.S. Treasury, seeking $10 billion in damages, alleging failure to prevent the unauthorized disclosure of their confidential tax information by a former IRS employee, resulting in reputational and financial harm.
- Leak Accountability: The lawsuit highlights that former IRS employee Charles Littlejohn, who is currently serving a five-year prison sentence for illegally disclosing Trump's tax records, admitted in a 2024 deposition to sharing Trump-related business information with ProPublica, exacerbating negative media coverage of Trump.
- Reputational Damage: The plaintiffs claim that the actions of the IRS and Treasury caused them
Continue Reading
Trump and Family Sue IRS Over Tax Info Leak
- Massive Lawsuit Amount: Trump and his family filed a lawsuit in Miami federal court seeking at least $10 billion in damages, alleging that the IRS and Treasury failed to prevent the leak of their confidential tax information, highlighting a severe breach of trust in government institutions.
- Leak Incident Background: The lawsuit claims that former IRS employee Charles Littlejohn leaked Trump's tax records in 2019 and 2020, infringing on the privacy of Trump and his family, which raises significant concerns about the government's ability to protect sensitive data.
- Legal Consequences: Littlejohn was sentenced to five years in prison for disclosing tax information, underscoring the severity of the leak and its long-term impact on Trump's and his family's reputation, potentially diminishing public trust in their business activities.
- Media Impact: The lawsuit mentions that the leaked information was utilized by outlets like The New York Times and ProPublica, resulting in reputational harm to Trump and his family, reflecting the crucial role of media in political events and its influence on public opinion.
Continue Reading