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Fly News Breaks for July 6, 2018
MANT
Jul 6, 2018 | 07:26 EDT
As reported earlier, SunTrust analyst Tobey Sommer upgraded ManTech to Buy from Hold and raised his price target to $66 from $60. The analyst cites the company's "superior positioning to further accelerate market share gains and capitalize on federal budget increases". Sommer also expects ManTech's more lucrative materials contracts to expand its EBITDA margins by as much as 20bps per year from his forecast of 8.6% this year toward the 9.5% industry average, raising his FY19 EPS target to $2.25 from $2.20.
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