- Now-former bull Brian Ruttenbur of Drexel Hamilton spoke with management following last night's disclosure, but got no additional clarity on the investigation or its potential financial impact. He downgrades to Hold from Buy and pulls his price target.
- Raymond James' Brian Gesuale calls the probe a near-term headwind, but has "full confidence" in Booz Allen's (NYSE:BAH) management structure. He notes the company has overcome crises in the past. He cuts to Market Perform from Outperform.
- Wells Fargo (NYSE:WFC)'s Brian Case defends, noting prior "issues" have led to just brief declines, and ultimately proved to be great buying opportunities. The "criminal" aspect of this probe, though, ratchets the risk upward to some degree. He maintains an Outperform rating, but cuts his PT to $40 from $43.
- Source: Tatiana Darie at Bloomberg
- Shares -19.6% to $31.61
- Previously: Booz Allen discloses DOJ probe; shares down 13% after hours (June 15)
- Now read: FTI Consulting (FCN) Presents At The William Blair 2017 Growth Stock Conference - Slideshow
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