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Booz Allen Hamilton Among 'Best Positioned' In Cybersecurity, According To Jefferies

Booz Allen Hamilton Among 'Best Positioned' In Cybersecurity, According To Jefferies

Jefferies analysts led by Amit Singh believe Booz Allen Hamilton Holding Corporation (NYSE: BAH) is best positioned in the cybersecurity space. This was the outcome of the "Deep Dive On Cybersecurity" call the brokerage hosted last week.

The four analysts believe Booz Allen Hamilton is set to take advantage of the current robust spending environment. They also feel that the long-term trends remained intact and look favorable. Also, within the government's services coverage, the company is better placed to take advantage of the available trend.

The brokerage highlighted the American budget sees a year-over-year increase of 35 percent in overall IT cybersecurity spending in the fiscal year 2017. The government spent about $19 billion in fiscal year 2016. The administration also plans another revolving fund of $3.1 billion to support cybersecurity investments in the budget.

Most of the speakers in the conference expressed that the spending from the Federal Government toward IT would be robust.

Related Link: Booz Allen Hamilton Prices 13-Million-Share Secondary Offering By Affiliate Of The Carly Group

The four analysts said in their research note to their clients, "We believe the growth in govt's cybersecurity spend will likely outpace average Fed IT spend in the longterm. Talent management is the key to success. While we believe the overall cybersecurity demand trends remain favorable, one of the primary keys for vendors to capitalize on this trend is finding the right talent for the job."

The brokerage likes the company because of its relatively better capabilities/investments/focus in the cybersecurity apart from digital areas. The four analysts cited the government's budget focus on continuing to enhance emerging technologies adoption.

At time of writing, Booz Allen Hamilton was up 0.50 percent on the day, trading at $27.87.

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