An analyst upgrade last week boosted the BAH stock price by over 1%, with the report highlighting Booz Allen’s increased consulting footprint in cybersecurity. This niche segment is forecast to grow at double-digit rates. For Booz Allen, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher. In April, the Wall Street Journal reported that a group of consulting firms, including Booz Allen Hamilton , Marsh and McLennan Cos. Inc. (NYSE: MMC) , IBM (NYSE: IBM) , and Accenture plc (NYSE: ACN) , proposed up to $20 billion in savings to federal contracts. This would be in the form of terminating existing contracts or reducing the scope of work in existing contracts. BAH stock price could benefit from expanding demand for data analytics in national defense programs. Industry forecasts paint a positive picture for 2024, with Booz Allen well-positioned to capture market share.
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