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Fly News Breaks for May 29, 2019
BAH
May 29, 2019 | 09:25 EDT
SunTrust analyst Tobey Sommer raised his price target on Booz Allen to $69 and kept his Buy rating after its Q4 earnings beat, saying the company finished FY19 with an "industry-leading" organic revenue growth rate of 8.1%. The analyst also notes that the company's EBITDA margin expansion of 60bps was above the management's high-end of the long-term goal of 30bps through 2021. Sommer further states that Booz Allen's 5.8% hiring growth for FY19 marks an increase from last year and reflects the company's optimism that revenue growth will continue to outpace hiring growth.
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