Parsons shares rise after PSN wins $136 million U.S. Air Force contract

Parsons Corp. (NYSE: PSN) shares rose 7% on May 15, 2026, after the infrastructure and defense services company won a multiple-award task order contract from the U.S. Air Force with a ceiling value of $136 million. The contract covers architect-engineer services at Hill Air Force Base and has an 8.5-year performance period. The award represents new work for Parsons and adds visibility to the company’s future revenue pipeline. Parsons shares remain down 16.1% year to date. At $52.23, the stock trades 41.5% below its 52-week high of $89.29 reached in October 2025. The latest gain follows a 21.9% drop five months earlier, when Parsons lost a major U.S. air traffic control modernization contract to Peraton. Truist Securities later cut its price target on Parsons to $90 from $100, citing fewer clear catalysts.