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Fly News Breaks for June 10, 2019
PRSP
Jun 10, 2019 | 05:11 EDT
Cowen analyst Gautam Khanna downgraded Perspecta to Market Perform from Outperform and lowered his price target for the shares to $26 from $28 after assuming primary coverage of the name. While the company's "underlying momentum is strong,"the stock's risk/reward into the binary NGEN-R re-compete award is "uncompelling," Khanna tells investors in a researchh note. Further, Perspecta has fewer "levers" to drive earnings growth while its margins are unlikely to expand much from the current levels and its balance sheet is levered, adds the analyst.
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