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Fly News Breaks for September 11, 2018
EGL, SAIC
Sep 11, 2018 | 07:43 EDT
Vertical Research analyst Krishna Sinha downgraded SAIC (SAIC) to Hold with an $80 price target following news the company would acquire Engility (EGL) in a deal worth $2.5B. Sinha said both companies are low-single digit growers and expects some book-to-bill to be sacrificed, resulting in SAIC suffering on the topline "at a time when investors are clamoring for growth."
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