Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Parsons, Hexcel, NextDecade and Consolidated Water.
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Parsons double upgraded at BofA
BofA Securities upgraded Parsons (NYSE:PSN) to Buy from Underperform and raised its price target to $65.00 from $46.00 on stronger-than-expected growth from both organic and inorganic opportunities.
According to the bank, Parsons is poised to benefit from the improved market sentiment on government services and the potential opportunities linked to the U.S. Infrastructure Bill.
Earlier this month, the company reported impressive earnings for Q2/23, once again exceeding Street estimates and raising its guidance for the full year.
Hexcel upgraded at RBC Capital
RBC Capital upgraded Hexcel (NYSE:HXL) to Outperform from Sector Perform and raised its price target to $85.00 from $75.00, as reported in real-time on InvestingPro.
"While 2H23 growth expectations are modest, we anticipate an acceleration in aerospace growth in 2024-2025. HXL represents a high quality aerospace supplier that we believe will deliver better than expected margins and FCF upside."
Two more upgrades
Nextdecade (NASDAQ:NEXT) shares gained more than 3% pre-market today after Stifel upgraded the company to Buy from Hold and raised its price target to $9.00 from $7.50.
The firm believes the risk-reward is positively skewed following the approval of the Rio Grande LNG phase 1 and the subsequent drop in the stock price.
Janney upgraded Consolidated Water (NASDAQ:CWCO) to Buy from Neutral. As a result, shares jumped 13% yesterday, adding to more than an 11% gain on Friday, which followed the better-than-expected Q2 earnings report.
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