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GD

General Dynamics

$209.53

-2.57 (-1.21%)

, CSRA

CSRA

$40.39

9.57 (31.05%)

07:17
02/13/18
02/13
07:17
02/13/18
07:17

CSRA about 3% accretive to General Dynamics 2019 EPS, says Wells Fargo

Wells Fargo analyst Sam Pearlstein notes that General Dynamics (GD) announced it is to acquire CSRA (CSRA) for $40.75/share in cash plus $2.8B of net debt. The analyst estimates CSRA could add 3% to General Dynamics' 2019 EPS and 5% to free cash flow/share, but recognizes investors were hoping for either an acquisition in the defense products business and/or larger buybacks. Instead, Pearlstein expects less buyback and a modestly worse sales mix. He reiterates an Outperform rating and $240 price target on General Dynamics' shares.

GD

General Dynamics

$209.53

-2.57 (-1.21%)

CSRA

CSRA

$40.39

9.57 (31.05%)

GD General Dynamics
$209.53

-2.57 (-1.21%)

01/25/18
WELS
01/25/18
NO CHANGE
Target $240
WELS
Outperform
General Dynamics price target raised to $240 from $225 at Wells Fargo
Wells Fargo analyst Sam Pearlstein raised his price target for General Dynamics to $240 from $225 following quarterly results. The analyst reiterates an Outperform rating on the shares.
02/12/18
SBSH
02/12/18
NO CHANGE
SBSH
Citi sees services stocks outperforming after CSRA buyout
Citi analyst Jonathan Raviv expects government service stocks to outperform after General Dynamics (GD) announced its acquisition of CSRA (CSRA) for $9.6B. The analyst notes he has Buy ratings on Leidos (LDOS), CACI (CACI), SAIC (SAIC) and a Neutral rating on Booz Allen (BAH). Raviv, however, can't think of another prime interested in consolidating more services. The analyst also expects Buy-rated Harris (HRS) to underperform today as he thinks there was some takeout speculation baked into shares.
02/12/18
WELS
02/12/18
DOWNGRADE
WELS
Market Perform
CSRA downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Ed Caso downgraded CSRA (CSRA) to Market Perform from Outperform after the company announced an agreement to be acquired by General Dynamics (GD) for $40.75 per share in cash.
02/12/18
STFL
02/12/18
DOWNGRADE
STFL
Hold
CSRA downgraded to Hold from Buy at Stifel
Stifel analyst Joseph DeNardi downgraded CSRA (CSRA) to Hold after the company announced an agreement to be acquired by General Dynamics (GD) for $40.75 per share in cash. He sees very little risk from a regulatory or financing standpoint and see a competing bid as unlikely, DeNardi tells investors.
CSRA CSRA
$40.39

9.57 (31.05%)

12/27/17
LOOP
12/27/17
NO CHANGE
LOOP
Loop says Federal IT services companies to see strong benefit from tax changes
Loop Capital analyst Joseph Vafi noted that federal IT services companies should see an outsized benefit from changes to the corporate tax code, stating that a reduction in the federal corporate tax rate may be offset a bit for some in the space due to the disallowance of deductibility of interest expense. He points to CACI (CACI), CSRA (CSRA), ManTech (MANT), NIC Inc. (EGOV), ICF International (ICFI) and Green Dot (GDOT) as among those who stand to benefit from the new tax law.

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