Parsons Corporation Secures $514 Million Missile Defense Agency Contract Option

Parsons (NYSE:PSN) shares traded flat on Monday. The company secured a $514M missile-defense contract option, but broader market weakness limited gains. PSN is down 39% over the past year, with key resistance at $49.50 and support at $48.00. Analysts have a Buy consensus rating with an average price target of $59.14.

Parsons has been awarded a share of a $981M contract by the U.S. Space Force for the NITE-STAR program, which aims to develop advanced space test and training capabilities. The contract includes two five-year ordering periods. Parsons will collaborate with several partners to support the development, integration, and deployment of space vehicle and ground system technologies. According to the company, this contract builds on its extensive experience in national security space missions.

Parsons (NYSE: PSN) secured a $514 million, two-year contract option from the Missile Defense Agency (MDA) to continue providing engineering, technical, and oversight support for the U.S. integrated Missile Defense System. The contract covers advanced systems engineering and solutions to protect against ballistic and hypersonic threats across multiple domains.

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Parsons won a spot on the U.S. Navy's $350M S2ISR contract. The company will compete for task orders supporting maritime ISR missions, including engineering, cybersecurity, and testing services. The contract covers research, development, and technical services for ISR systems from development to deployment.

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.