Update on our $PSN.US (Parsons Corporation) holding!
We currently hold a small position in Parsons (~0.89% of the portfolio). Our thesis for this stake was largely tied to the upside potential of the company securing the FAA’s major integrator award.
Today we learned that the $12.5B “Brand New Air Traffic Control System” contract was awarded to Peraton, not Parsons. As a result, PSN is trading lower pre-market, and Raymond James has downgraded the stock from Strong Buy to Market Perform, noting that PSN’s 35% valuation premium (based on expected contract wins) is now at risk.
This outcome materially impacts the 2026–2027 growth outlook, removing a key catalyst from our original price target and reducing visibility on organic growth.
I will re-evaluate our thesis and target price accordingly. While Parsons remains a solid company with long-term growth fundamentals, the loss of this contract may justify reducing or exiting the position depending on updated projections.
I’ll update you once the reassessment is complete.... Show More
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Wed Jan 21 2026 00:49:26 GMT+0000 (Coordinated Universal Time)
