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Booz Allen Hamilton: Barclays Looks Beyond Q1 Estimate Beat

Booz Allen Hamilton: Barclays Looks Beyond Q1 Estimate Beat
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Barclays expressed being impressed with Booz Allen Hamilton Holding Corporation (NYSE: BAH) management's "palpable optimism" on broadening future growth potential following the first-quarter beat.

"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.

Related Link: Booz Allen Hamilton Among "Best Positioned" In Cybersecurity, According To Jefferies

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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Latest Ratings for BAH

Oct 2016Raymond JamesUpgradesMarket PerformOutperform
Aug 2016JefferiesMaintainsBuy
Apr 2016Raymond JamesDowngradesOutperformMarket Perform

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