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UPDATE: Bank of America Upgrades Booz Allen Hamilton on Defensive Cyber Play

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In a report published Thursday, Bank of America analyst Ronald J. Epstein upgraded the rating on Booz Allen Hamilton (NYSE: BAH) from Neutral to Buy, and reiterated the $22.00 price target.

In the report, Bank of America noted, “We upgrade Booz Allen Hamilton to Buy from Neutral, but leave our $22 PO unchanged. In our view, BAH is positioned to benefit from growth in cyber security spending as the US government prioritizes cyber threats. We expect the company's cost containment measures to preserve margins in the near-term and provide better leverage in the out years. Additionally, recent pullback provides an attractive entry point and we target nearly 25% returns (including special dividends) over the next 12 months.”

Booz Allen Hamilton closed on Wednesday at $18.48.

Latest Ratings for BAH

DateFirmActionFromTo
Jul 2019MaintainsNeutral
Jul 2019DowngradesOutperformMarket Perform
Jun 2019Initiates Coverage OnOverweight

View More Analyst Ratings for BAH
View the Latest Analyst Ratings

Posted-In: Bank of America Ronald J. EpsteinAnalyst Color Upgrades Analyst Ratings

 

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