Parsons Corporation (NYSE:PSN) is a key player in the defense and infrastructure sectors, providing technology-driven solutions to the U.S. government and other clients worldwide. Recently, Barclays set a price target of $70 for Parsons, suggesting a potential upside of 15.61% from its current trading price of $60.55.
Parsons' recent $100 million contract to enhance the U.S. defense industrial base's munitions production highlights its strategic importance. This contract supports the Department of Defense's acquisition strategy, emphasizing Parsons' role in national defense. The stock, currently priced at $60.55, has seen a slight increase of 0.58% or $0.35.
The stock's trading range for the day has been between $60 and $61.25, showing some volatility. Over the past year, PSN has experienced a high of $97.91 and a low of $54.56. This fluctuation reflects the market's response to Parsons' business activities and broader economic conditions.
Parsons has a market capitalization of approximately $6.46 billion, indicating its significant presence in the industry. With a trading volume of 1,303,255 shares, the stock is actively traded, reflecting investor interest. The company's recent contract win may further bolster investor confidence in its growth prospects.
