Wells Fargo cut its price target on SAIC after the company reported Q1 results that the firm says were "generally in-line." However, the firm notes that the company plans to increase its investments in its amphibious assault vehicles, AAV and ACV; Wells expects the company's investments to lower its EBTIDA margin by 0.3 percentage points this year. However, the firm adds that the company's bookings were "strong," while its "strong" free cash flow may enable it to accelerate its share repurchases. Wells trimmed its price target on the stock to $75 from $80 but keeps a Market Perform rating on the shares.