- William Blair analyst Louie DiPalma downgraded Parsons Corp PSN to Market Perform from Outperform without a price target.
- DiPalma mentions that the company's organic growth should rebound in 2022, but not as much as consensus estimates imply.
- The analyst says Parsons should benefit from the $1.2 trillion Infrastructure Investment and Jobs Act, but the company has cautioned that it may not see stimulus contributions until late 2022 or early 2023.
- DiPalma sees an increased risk that Parsons will guide 2022 revenue below consensus when it reports Q4 results in February.
- Price Action: PSN shares are trading lower by 6.43% at $31.20 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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