Loop Capital analyst Joseph Vafi keeps his Buy rating and $210 price target on CACI (CACI), but notes that the company's latest guidance is likely to be even more conservative than he previously assumed after it confirmed the acquisition of certain Navy contracts from General Dynamics (GD). Vafi says he will look for any potential 8K filing disclosures from General Dynamics on the size of its Seaport-e business, which had booked those contracts, in 2017, and estimates as much as over $30M in conservatism related to CACI's FY19 revenue outlook.

RBC Capital lowered the firm's price target on General Dynamics to $320 from $325 after its Q1 earnings miss but keeps an Outperform rating on the shares. The company's revenue growth was driven by double-digit growth in Combat Systems, Marine Systems, and Aerospace, but while the management provided cautious comments on Q2 earnings and free cash flow, the set-up into the second half remains "very favorable", the analyst tells investors in a research note. RBC adds that it continues to see capital allocation as a key catalyst for General Dynamics.

Consensus $20.31. Raises FY24 revenue view to $7.5B-$7.6B from $7.3B-$7.5B, consensus $7.4B.

Reports Q3 revenue $1.94B, consensus $1.86B. "CACI's outstanding performance reflects the continued successful execution of our strategy. We're winning and delivering in the marketplace with differentiated capabilities, exceptional business development, and program execution," said John Mengucci, CEO. "Our third quarter results were strong across the board, including double-digit organic growth, margin expansion, $3.5 billion of awards, and record backlog. Our performance enables us to again raise fiscal year 2024 revenue and earnings guidance. We remain confident in our ability to drive long-term growth, increase free cash flow, and generate value for our customers and our shareholders."

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Reports Q1 revenue $10.7B, consensus $10.32B. "Our businesses delivered solid operating results in the quarter, growing revenue and backlog, while expanding margins, even as we awaited G700 certification," said Phebe N. Novakovic, chairman and chief executive officer. "In the Aerospace segment, the recent FAA certification of the Gulfstream G700 has enabled us to begin customer deliveries. This is a strong start to 2024 and we remain confident in our outlook."