1314 ET - Parsons lost its bid for a $12.5 billion contract to help the FAA build a new air traffic control system, which throws a wrench in investors' expectations for the contractor's future, Raymond James analysts led by Brian Gesuale say. The analysts downgrade the stock to market perform from strong buy, and shares slide 21%. Not winning the contract creates questions about what will drive growth in the near-term for Parsons, Gesuale says. He believes Parsons has potential growth opportunities, such as Trump's Golden Dome initiative or border security efforts, but those won't benefit the company in the near-term because it hasn't yet secured big contracts. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
December 05, 2025 13:14 ET (18:14 GMT)
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