From Strong Dividends To Big Government Contracts: Why B Of A Analyst Is Bullish On Booz Allen Hamilton
Portfolio Pulse from Lekha Gupta
B Of A Securities analyst Ronald J. Epstein upgraded Booz Allen Hamilton Holding Corp (NYSE:BAH) to Buy from Neutral, increasing the price target to $130 from $110. Epstein believes BAH's exposure to accelerating technologies and modernization initiatives will drive strong organic growth. He also notes that softer-than-expected acquisition activity will aid in redirecting capital for strong dividends and buybacks. BAH's exposure to rapidly growing government-wide acquisition of multi-billion-dollar contracts and AI are seen as significant tailwinds.
October 03, 2023 | 7:52 pm
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Booz Allen Hamilton (BAH) has been upgraded to Buy from Neutral by B Of A Securities analyst, with an increased price target of $130. The company's exposure to accelerating technologies and modernization initiatives, as well as its involvement in government-wide acquisition of multi-billion-dollar contracts and AI, are expected to drive growth.
The upgrade by B Of A Securities analyst Ronald J. Epstein is a positive signal for Booz Allen Hamilton (BAH). The increased price target indicates higher expected value for the company's shares. The analyst's bullish stance is based on BAH's exposure to accelerating technologies and modernization initiatives, as well as its involvement in government-wide acquisition of multi-billion-dollar contracts and AI. These factors are expected to drive strong organic growth for the company, which could positively impact its stock price in the short term.
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