7/103 sources · 3 publishersUpdated Oct 9, 00:58 UTC
Truist upgrades Booz Allen Hamilton to Buy, lifts price target to $85
Truist Securities analyst Tobey Sommer upgraded Booz Allen Hamilton (BAH) from Hold to Buy, raising the price target from $70 to $85. The upgrade cites a near‑bottom in civil‑revenue decline, stronger national‑security work and a shift to fixed‑price contracts that could add 70 basis points of margin by fiscal 2029. The news sent the stock up about 5.3% in afternoon trading.
Why it matters
Truist’s higher target and rating suggest upside potential for investors, and the margin‑expansion outlook could improve future earnings. The upgrade also triggered a short‑term price rally, as reflected by the 5.3% share increase.
Key facts
- 1Truist raised its price target for Booz Allen Hamilton to $85, up from $70. investing.com
- 2Truist expects about 70 basis points of margin expansion by fiscal year 2029 versus consensus expectations of 30 basis points. investing.com
- 3Truist slightly lifted its fiscal year 2028 earnings estimates. investing.com
- 4Booz Allen Hamilton secured an $85 million contract with the U.S. Department of War for aerospace systems research. investing.com
- 5Shares jumped 5.3% after the upgrade was announced. financialcontent.com
- 6The U.S. Navy selected Booz Allen Hamilton for a potential $827.9 million, nine‑year IDIQ contract. financialcontent.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.