Parsons stock jumps after Baird upgrades to Outperform

Parsons Corp (PSN) stock rose 4.0% to $47.91 after Baird upgraded it to Outperform, raising its price target to $57. The firm cited expected earnings recovery in 2H 2026 due to $400M in transaction adjustments, mine projects, and a $40M program ramp. Parsons also secured a $350M defense contract, adding to positive momentum. The broader market also supported gains, with the S&P 500 and Dow Jones rising 0.5% and 0.8%, respectively.

Parsons Corp. secured a spot on the U.S. Space Force’s NITE-STAR program, a contract with a $981M ceiling over 10 years. The company will support space test and training capabilities development, partnering with five other firms. According to Parsons, this aligns with its expertise in space systems and national security solutions.

Parsons (NYSE: PSN) said the Metropolitan Knoxville Airport Authority selected it to provide program and construction management for a five-year McGhee Tyson Airport (TYS) Terminal Area Development Plan in Knoxville, Tennessee. The contract covers terminal modernization and passenger growth, with centralized oversight of cost, schedule, coordination, and FAA funding compliance, using digital program management tools.

Parsons Corp (PSN) shares rose over 2% premarket after the U.S. Army Corps of Engineers awarded the company a position on a $2 billion multiple-award task order contract for energy resilience and infrastructure modernization at U.S. military installations. Parsons said the three-year base period includes seven one-year options and supports DoD ERCIP goals.

Parsons Government Services Inc. (Parsons Government Services) said the U.S. Army awarded it a $664.8 million contract for technical, logistics, and program management support. The multi-year IDIQ time-and-materials award runs through an estimated July 11, 2031 completion date, with work and funding set per order. Contracting activity is Army Contracting Command at Redstone Arsenal.

Parsons was awarded a U.S. Air Force task order worth up to $70 million for air base air defense, according to the report. The work is described as supporting defenses in Europe and Africa. The article also includes market-close pricing for Parsons and various analyst rating composites.