Parsons falls after missing out on $12.5 bln FAA contract

Parsons

05/12/2025 12:31

** Shares of engineering and consulting firm Parsons PSN.N fall 15.6% to $71.25 premarket

** FAA picks Peraton as project manager for $12.5 bln overhaul of aging U.S. air traffic control system over a joint bid by PSN and IBM IBM.N

** TD Cowen analysts say this is a "surprising loss" and contract win was already priced in

** Stock rated "buy" on avg; median PT at $87.5 - data compiled by LSEG

** As of last close, stock down 8.4% YTD

 (Reporting by Avinash P in Bengaluru)

 ((Avinash.P@Thomsonreuters.com))