UPDATE: Credit Suisse Upgrades Booz Allen Hamilton

In a report released Thursday, Credit Suisse analyst Robert Spingarn upgraded Booz Allen Hamilton (NYSE: BAH) from Neutral to Outperform, while raising its price target from $23 to $27.

Analyst at Credit Suisse like Booz Allen's ability to control its costs during difficulties in top line growth and its high historic returns to shareholders. Spingarn is bullish on the $1 special dividend announcement and the company's FQ1's $0.50 EPS surpassing estimates of nearly $0.03.