"Under the helm of CEO Rozanski, BAH appears to be shifting seamlessly into a new-age technology/capability-focused company, with a clear understanding of the dynamics of both the government and the high-growth commercial/international markets and with sizable already-won contracts just awaiting execution. This is the primary source of our unchanged constructive stance on the stock," analyst Carter Copeland wrote in a note.
The analyst said the company's potential headcount increases over the course of the year should spur greater billable expenses in high-growth markets such as systems development, cyber security and data analytics, leading to peer-leading top-line and EBITDA growth.
Specifically, management implied that they had reached critical mass in a network of commercial partnerships, which enables the company to be closer to the flow of innovation and technology, critical for a cutting-edge consultancy.
Copeland, who has an Overweight rating and $32 price target on the stock, raised current year EPS estimate to $1.68 from $1.65.
At time of writing, shares of Booz Allen were down 0.57 percent to $31.21.
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