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Fly News Breaks for August 8, 2018
GD, CACI
Aug 8, 2018 | 06:46 EDT
Loop Capital analyst Joseph Vafi raised his price target on CACI (CACI) to $200, saying the FTC's early termination notice disclosed yesterday suggests the company is the "imminent buyer" of federal IT business from General Dynamics (GD). Because of previously disclosed conflicts of interest, Vafi believes the pending deal will be for part or all of CSRA's Navy support business, estimating that business revenue generation of about $180-$200M per year. The analyst keeps his Buy rating on CACI, adding that a complete acquisition of the Seaport-e business would boost its inorganic growth by 3%-4% on a next twelve month basis, even as he expects the company's organic revenue to post a slow rebound.
News For CACI;GD From the Last 2 Days
GD
Mar 28, 2024 | 15:01 EDT
General Dynamics Information Technology, a business unit of General Dynamics, announced that it was awarded a $922M contract to modernize the U.S. Central Command's enterprise IT infrastructure. The new contract, awarded in February by the General Services Administration, has a one-year base period and five option years. Under this contract, GDIT will operationalize enterprise data through artificial intelligence/machine learning technologies to improve decision-making, transition CENTCOM to a new cloud environment, and enhance the effectiveness and efficiency of its networks. The company will also leverage its zero trust capabilities to bolster CENTCOM's cyber defenses and protect against future cyber threats.