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BAH

Booz Allen

$37.20

1.05 (2.90%)

, ICFI

ICF International

$54.05

0.65 (1.22%)

08:41
02/13/18
02/13
08:41
02/13/18
08:41

Budget proposals support positive view on Booz Allen, says William Blair

William Blair analyst Timothy McHugh says recent news about federal government budgets reinforce his positive view of Booz Allen (BAH) and mixed outlook for ICF International (ICFI). The spending caps passed by Congress and President Trump's proposed budget show a strong preference for increased Defense spending during the next few years, and there continues to be a clear focus on modernizing the government's IT system, McHugh tells investors in a research note. He believes Booz Allen remains the company best positioned to capitalize on this trend. These trends also bode well for On Assignment's (ASGN) pending acquisition of ECS, the analyst adds. He adds that the spending environment at civilian government agencies looks uncertain at this point, with his projections assuming 0%-2% growth in ICF's federal business. McHugh also believes General Dynamics' (GD) acquisition of CSRA (CSRA) provides valuation support for companies in the group.

BAH

Booz Allen

$37.20

1.05 (2.90%)

ICFI

ICF International

$54.05

0.65 (1.22%)

ASGN

On Assignment

$71.95

1.91 (2.73%)

GD

General Dynamics

$209.53

-2.57 (-1.21%)

CSRA

CSRA

$40.39

9.57 (31.05%)

  • 14

    Feb

  • 27

    Feb

  • 05

    Mar

BAH Booz Allen
$37.20

1.05 (2.90%)

12/01/17
12/01/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hormel Foods (HRL) reinstated with an Overweight at Barclays. 2. Kratos Defense (KTOS) initiated with a Neutral at JPMorgan. 3. Portola Pharmaceuticals (PTLA) initiated with a Buy at Goldman Sachs. 4. Diamondback Energy (FANG) initiated with a Buy at Citi. 5. Booz Allen (BAH) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
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.
12/01/17
RHCO
12/01/17
INITIATION
Target $47
RHCO
Buy
Booz Allen initiated with a Buy at SunTrust
SunTrust analyst Tobey Sommer initiated Booz Allen with a Buy rating and a price target of $47, saying the company is a "sustainable market share gainer". Sommer says Booz Allen may post organic revenue growth that is 5-8 points faster than comparable firms, adding that higher growth is sustainable because of the company's "consulting heritage" and targeted hiring in high demand areas such as machine learning, platform cyber and directed energy.
11/21/17
STFL
11/21/17
INITIATION
Target $46
STFL
Buy
Booz Allen resumed with a Buy at Stifel
Stifel analyst Joseph DeNardi resumed coverage of Booz Allen Hamilton with a Buy rating and $46 price target.
ICFI ICF International
$54.05

0.65 (1.22%)

08/30/17
LOOP
08/30/17
NO CHANGE
Target $65
LOOP
Buy
ICF International may 'return to the spotlight' after Harvey, says Loop Capital
Loop Capital analyst Joseph Vafi said he sees it as likely that ICF International's expertise in disaster recovery services "could return to the spotlight" in the wake of Hurricane Harvey, adding that since its expertise is more in the recovery phase than in up-front response-related activities, post-Harvey opportunities are likely at least six months away for ICF. The analyst, who believes the cost of Harvey recovery "could dwarf that post Katrina," has a Buy rating and $65 price target on ICF International shares.
08/31/17
RHCO
08/31/17
NO CHANGE
RHCO
ICF International Harvey opportunity could be similar to Katrina, says SunTrust
SunTrust analyst Tobey Sommer estimates that ICF International could obtain "a comparable amount" of revenue in the wake of Hurricane Harvey to the $900M that it received following Hurricane Katrina. The analyst says that spending on home reconstruction could be three to four times higher in the wake of Harvey than following Katrina, but he says that there will be more competition for ICF following Harvey while home values are significantly lower in Houston. He keeps a $56 price target and a Buy rating on ICF.
09/22/17
RHCO
09/22/17
NO CHANGE
RHCO
ICF International price target raised to $62 from $56 at SunTrust
SunTrust analyst Tobey Sommer increased his price target on ICF, citing his belief that the company will benefit from "major residential reconstruction work" in the wake of this year's hurricanes. He thinks that the company could receive $900M in government funds for reconstruction work, and he keeps a Buy rating on the shares.
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.
ASGN On Assignment
$71.95

1.91 (2.73%)

01/08/18
BMOC
01/08/18
NO CHANGE
Target $73
BMOC
Outperform
On Assignment price target raised to $73 from $66 at BMO Capital
BMO Capital analyst Jeffrey Silber raised his price target on On Assignment to $73 from $66 to reflect the company's Friday update on the impact of U.S. corporate tax cut legislation. The analyst says the management now expects the effective tax rate for 2018 will range between 25.5% and 27.5% versus his prior estimate of 38.5%. Silber also keeps his Outperform rating on On Assignment.
02/01/18
RHCO
02/01/18
NO CHANGE
Target $88
RHCO
Buy
On Assignment price target raised to $88 from $80 at SunTrust
SunTrust analyst Tobey Sommer raised his price target on On Assignment to $88 and kept his Buy rating. Sommer says the acquisition of ECS is "strategically valuable, accretive and well-timed" amid the likely long-term improvement in federal IT spending growth.
02/01/18
BMOC
02/01/18
NO CHANGE
Target $82
BMOC
Outperform
On Assignment price target raised to $82 from $73 at BMO Capital
BMO Capital analyst Jeffrey Silber raised his price target on On Assignment to $82 and kept his Outperform rating after the company's ECS Federal acquisition. Silber says On Assignment has a "good track record" of acquiring well-run private companies, and this deal fits that mold, expanding the company's total addressable market and providing more visibility on performance with a "less cyclical business".
12/29/17
WELS
12/29/17
NO CHANGE
Target $71
WELS
Outperform
On Assignment price target raised to $71 from $65 at Wells Fargo
Wells Fargo analyst Ed Caso raised his price target for On Assignment to $71 citing benefits from U.S. tax reform and a "continued positive business backdrop." The analyst sees an approximately 20% lift in pro forma earnings given the near marginal U.S. federal tax rate historically paid by the company and the fact that its revenue is essentially all U.S. based. Caso sees a greater likelihood of positive quarterly earnings surprises and remains comfortable with an Outperform rating on On Assignment.
GD General Dynamics
$209.53

-2.57 (-1.21%)

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.
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.
02/13/18
WELS
02/13/18
NO CHANGE
Target $240
WELS
Outperform
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.
CSRA CSRA
$40.39

9.57 (31.05%)

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ORCL

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WBA

Walgreens Boots Alliance

$64.61

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ORCL

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GE

General Electric

$12.96

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BPOP

Popular

$46.64

0.19 (0.41%)

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SRAX

Social Reality

$4.66

0.2 (4.48%)

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ORCL

Oracle

$46.29

-0.25 (-0.54%)

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VALE

Vale

$12.97

-0.21 (-1.59%)

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WBA

Walgreens Boots Alliance

$64.61

0.47 (0.73%)

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$12.96

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RMTI

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ORCL

Oracle

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VALE

Vale

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FDX

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CCNI

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ORCL

Oracle

$46.29

-0.25 (-0.54%)

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NVTR

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