Truist lowered the firm’s price target on Booz Allen to $140 from $160 and keeps a Hold rating on the shares after its Q1 earnings miss. The company’s ramping headcount margin impact is a “transient issue” and the firm continues to believe Booz Allen will achieve the 11% adjusted EBITDA margin guidance, the analyst tells investors in a research note. Booz Allan also earned a 1.7-times book-to-bill in the quarter, with solid backlog growth, the firm added.
