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Fly News Breaks for February 13, 2018
CSRA, GD
Feb 13, 2018 | 07:17 EDT
Wells Fargo analyst Sam Pearlstein notes that General Dynamics (GD) announced it is to acquire CSRA (CSRA) for $40.75/share in cash plus $2.8B of net debt. The analyst estimates CSRA could add 3% to General Dynamics' 2019 EPS and 5% to free cash flow/share, but recognizes investors were hoping for either an acquisition in the defense products business and/or larger buybacks. Instead, Pearlstein expects less buyback and a modestly worse sales mix. He reiterates an Outperform rating and $240 price target on General Dynamics' shares.
News For GD;CSRA 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.