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SAIC

SAIC

$64.20

0.92 (1.45%)

14:16
09/19/17
09/19
14:16
09/19/17
14:16

SAIC moving into initial production phase for Marines' AAV SU program

The U.S. Marine Corps Program Executive Officer Land Systems approved the Assault Amphibious Vehicle Survivability Upgrade program to enter into the Production and Deployment Phase following a Milestone C decision. As a part of the decision Science Applications International Corp. was awarded an initial Low Rate Initial Production option to provide the Marine Corps additional AAV SU vehicles. As part of the LRIP decision, SAIC will deliver a total of 25 vehicles over a two-year period for operational test and evaluation and initial fielding to USMC expeditionary units, the company announced. "SAIC is pleased to be moving into the LRIP phase for the AAV SU program and to begin delivering these important survivability and mobility enhancements out into the fleet and into the hands of our Marines," said Tom Watson, SAIC senior vice president.

SAIC SAIC
$64.20

0.92 (1.45%)

07/17/17
07/17/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cemex (CX) downgraded to Sell from Neutral at Citi with analyst Dan McGoey saying the share are ahead of themselves following the recent rally. 2. Wabtec (WAB) downgraded to Hold from Buy at Stifel with analyst Michael Baudendistel citing valuation. 3. SAIC (SAIC) downgraded to Hold from Buy at Jefferies with analyst Sheila Kahyaoglu saying the company's relatively concentrated portfolio with 25% of contracts exposed to re-competes is likely to drive "muted" revenue expansion. 4. Booz Allen (BAH) downgraded to Hold from Buy at Jefferies with analyst Sheila Kahyaoglu saying she believes the Department of Justice's civil and criminal investigation into the company's indirect cost accounting practices creates an overhang. 5. Brookfield Renewable (BEP) downgraded to Market Perform from Outperform at Raymond James with analyst Frederic Bastien citing strong share performance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
JEFF
07/17/17
DOWNGRADE
Target $66
JEFF
Hold
SAIC downgraded to Hold from Buy at Jefferies
Jefferies analyst Sheila Kahyaoglu downgraded SAIC to Hold and lowered her price target for the shares to $66 from $98 after assuming coverage of the name. The company's relatively concentrated portfolio with 25% of contracts exposed to re-competes is likely to drive "muted" revenue expansion, the analyst contends.
06/13/17
RHCO
06/13/17
NO CHANGE
Target $93
RHCO
Buy
SAIC earnings call 'dominated' by talk of increased investment, says SunTrust
SunTrust analyst Tobey Sommer said SAIC's earnings call was "dominated" by talk of increased investments in platform integration programs and he heard "skepticism" on the call about the viability of these being a margin driver. While he lowered his adjusted EBITDA estimates to account for investments, he remains convinced that SAIC's agile approach lowers customers' total cost of ownership. Sommer, who expects platform integration to be a significant catalyst for margin expansion, keeps a Buy rating and $93 price target on SAIC shares.
06/13/17
WELS
06/13/17
NO CHANGE
WELS
SAIC price target lowered to $75 from $80 at Wells Fargo
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.

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