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CACI

CACI

$157.45

3.3 (2.14%)

, CSRA

CSRA

$40.65

-0.02 (-0.05%)

18:50
03/18/18
03/18
18:50
03/18/18
18:50

CACI announces proposal to acquire CSRA for $44 per share

CACI International (CACI) announced that it has made a proposal to acquire all outstanding shares of CSRA (CSRA) for $44.00 per share in cash and stock. CACI's proposal includes a cash component of $15 per share and a stock component in the form of CACI stock at a fixed exchange ratio of 0.184 shares of CACI common stock for each share of CSRA stock. The acquisition proposal represents an 8% premium over the price CSRA's shareholders would receive in the announced transaction with General Dynamics (GD). The combination would allow CSRA's shareholders to participate in the long-term growth of the combined company. CACI expects to realize $165M annually in net run-rate cost synergies-a substantially greater figure than the synergies contemplated by the GD transaction, affording both CACI's and CSRA's shareholders the opportunity to participate in additional value creation. CACI has committed financing in place for the proposed transaction and therefore its proposal is not subject to any financing contingency. CACI's Board of Directors unanimously approved the proposal, which is not subject to any further due diligence. CACI expects that a transaction could close by July 31, 2018, subject to approvals by CACI's and CSRA's shareholders.

CACI

CACI

$157.45

3.3 (2.14%)

CSRA

CSRA

$40.65

-0.02 (-0.05%)

GD

General Dynamics

$222.74

0.14 (0.06%)

CACI CACI
$157.45

3.3 (2.14%)

02/01/18
LOOP
02/01/18
UPGRADE
Target $170
LOOP
Buy
CACI upgraded to Buy from Hold at Loop Capital
Loop Capital analyst Joseph Vafi upgraded CACI International to Buy and raised his price target for the shares to $170 from $140. The analyst says he can't ignore the "almost dollar-for-dollar boost" to CACI's net income due to tax reform. He believes Street estimates have to move up "materially" following last night's Q2 results.
02/02/18
MAXM
02/02/18
NO CHANGE
Target $174
MAXM
Buy
CACI price target raised to $174 from $159 at Maxim
Maxim analyst Brian Kinstlinger raised his price target on CACI to $174 after the company's Q2 earnings beat thanks to stronger-than-expected award fees as well as a better performance on fixed price programs. The analyst expects revenue growth to be sustainable, with the company having been awarded about $1.1B in contracts during Q2, while keeping his Buy rating on CACI.
02/02/18
NBLE
02/02/18
DOWNGRADE
Target $153
NBLE
Hold
CACI downgraded to Hold on valuation at Noble Financial
Noble Financial downgraded CACI to Hold from Buy with a $153 price target citing valuation.
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.
CSRA CSRA
$40.65

-0.02 (-0.05%)

02/14/18
RHCO
02/14/18
DOWNGRADE
Target $40.75
RHCO
Hold
CSRA downgraded to Hold from Buy at SunTrust
SunTrust analyst Frank Atkins downgraded CSRA (CSRA) to Hold from Buy but raised his price target to $40.75 from $39 after a bid from General Dynamics (GD). Atkins contends that the deal will likely proceed "in a smooth manner" and is unlikely to be topped, noting that CEO Larry Prior has likely evaluated several options in the context of shareholder value before agreeing to General Dynamics deal.
02/15/18
LOOP
02/15/18
DOWNGRADE
Target $40.75
LOOP
Hold
CSRA downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Joseph Vafi downgraded CSRA (CSRA) to Hold while raising his price target for the shares to $40.75 from $37 to reflect the acquisition by General Dynamics (GD). The analyst sees "slim" chances of a higher takeover offer emerging.
02/20/18
RBCM
02/20/18
NO CHANGE
Target $267
RBCM
Outperform
General Dynamics price target raised to $267 from $258 at RBC Capital
RBC Capital analyst Matthew McConnell raised his price target on General Dynamics (GD) to $267, saying the company's acquisition of CSRA (CSRA) is a "savvy deal in a core and high ROIC platform of a best-in-class asset at a reasonable price". The analyst keeps his Outperform rating on General Dynamics, noting that CSRA is on the cusp of organic revenue growth acceleration after posting a book-to-bill of at least 1.3-times over the past ten quarters.
02/26/18
COWN
02/26/18
NO CHANGE
Target $253
COWN
Outperform
General Dynamics price target raised to $253 from $230 at Cowen
Cowen analyst Cai von Rumohr raised his price target on General Dynamics (GD) and said it is now his number one defense pick. The analyst cited improving business jet demand, the strongest 2019 Department of Defense budget request, and the accretive CSRA (CSRA) acquisition. von Rumohr reiterated his Outperform rating on General Dynamics shares.
GD General Dynamics
$222.74

0.14 (0.06%)

03/02/18
BERN
03/02/18
NO CHANGE
Target $255
BERN
Outperform
Raytheon remains 'top pick' in defense sector, says Bernstein
Bernstein analyst Douglas Harned continues to view Raytheon (RTN) as his "top pick" in the defense space in light of recent Q4 results and progress on the defense budget, which is "more positive" following an agreement in Congress on budget top lines for FY18 and FY19, and publication of a President's budget request for FY19. In a research note to investors, Harned said that while yesterday's announcement of 25% tariffs on steel and 10% on aluminum is negative, most defense contracts should be protected by long-term agreements. Raytheon's business mix, with 40% of revenues coming from missile defense and tactical missiles, looks "most positive," he said, but noted that other defense names, including General Dynamics (GD), Huntington Ingalls (HII), Lockheed Martin (LMT) and Northrop Grumman (NOC), are all rated Market Perform given high valuations.

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$2.06

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$5.55

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MSFT

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$108.24

-0.81 (-0.74%)

, AMZN

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$1,895.51

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UUP

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CHAP

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