BofA Initiates PAE With Buy Rating

BofA Initiates PAE With Buy Rating
  • BofA analyst Mariana Perez Mora initiated PAE Inc PAE with a Buy rating and a price target of $8, implying an upside of 30.08%.
  • While recognizing 11% of 2020 revenues came from PAE's "significant exposure" to Afghanistan, Perez Moran sees the stock pullback following the Taliban takeover of Kabul as "excessive." 
  • She argues that two-thirds of PAE's Afghanistan revenues were already expected to expire following the U.S. force's departure, and the market also overreacted to the impact that the Taliban resurgence could have on U.S. diplomatic operations in Iraq.
  • Price Action: PAE shares are trading higher by 4.24% at $6.15 on the last check on Monday.

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