Loop Capital analyst Joseph Vafi raised his price target on ManTech to $80 and kept his Buy rating after its Q3 update that puts its quarter-to-date bookings increase at over 50%. The analyst notes that the seasonal bookings strength should produce another "impressive" book-to-bill, adding that the start of the new fiscal year next month will also likely drive "margin tailwinds" for the company and its peers. Vafi states that ManTech margins should also be helped by the Defense Department increased reliance on "best value" rather than "least cost".