Loop Capital analyst Joseph Vafi raised his price target on ManTech to $65 after the company's slight beat on Q4 earnings and a "bright" outlook for FY18 with building momentum. Vafi notes that after a "transformational" FY17, when 50% of ManTech's book-to-bill was from new business, the company is accelerating its growth, and the outlook "could improve materially in the next several weeks if the agreed-to, two-year budget deal is enacted next month". The analyst further contends that 2018 does not appear as a light bid submission year for the company and adds that his newly introduced FY19 estimates in the model could end up conservative, keeping his Buy rating on ManTech.