Wells Fargo analyst Ed Caso raised his price target for CACI to $295 from $285 ahead of quarterly results as he sees potential for revenue/EPS upside given ongoing mix shift to higher margin opportunities that do not show up in award announcements. The analyst has an Overweight rating on the shares.

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."