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PRSP

Perspecta

$21.83

-0.545 (-2.44%)

16:11
08/12/19
08/12
16:11
08/12/19
16:11

Perspecta awarded IDIQ contract from NGA valued at up to $824M

Perspecta announced that it has received a single award Indefinite Delivery, Indefinite Quantity contract from the National Geospatial-Intelligence Agency to perform full life cycle systems engineering and integration work. The contract has a five year ordering period with a maximum ceiling value of $824M. Perspecta also received the first task order on the contract, valued at $223M, and began performing the services at the end of July.

  • 13

    Aug

  • 14

    Aug

PRSP Perspecta
$21.83

-0.545 (-2.44%)

05/09/19
GSCO
05/09/19
INITIATION
Target $21
GSCO
Sell
Perspecta initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Gavin Parsons started Perspecta with a Sell rating and $21 price target. The analyst expects the company to grow revenue at the slowest pace in his coverage reflecting near-term headwinds and reversing tailwinds in Background Investigations. However, Parsons initiated coverage of US Government IT & Services with a favorable outlook on the sector. He believes we are in the "sweet-spot" of a Defense budget upturn and expects the sector to outperform the market, with "multiple years" of growth ahead.
06/03/19
MSCO
06/03/19
INITIATION
Target $20
MSCO
Underweight
Perspecta initiated with an Underweight at Morgan Stanley
Morgan Stanley analyst Matthew Sharpe initiated coverage of the Government Services industry, starting Perspecta with an Underweight rating and $20 price target. He sees the company's outlook being challenged in the near- to mid-term given its significant contract recompete risk, Sharpe tells investors. Perspecta's elevated leverage also raises its risk and likely limits capital returns, said Sharpe.
06/07/19
LOOP
06/07/19
NO CHANGE
Target $22
LOOP
Hold
Perspecta price target raised to $22 from $19 at Loop Capital
Loop Capital analyst Joseph Vafi raised his price target on Perspecta to $22 after its "steady" Q4 results, saying that after a 1.6-times book-to-bill report in the prior quarter, Q4's 1.2-times came amid "light" conditions for recompetes. The analyst also notes that the company's initial FY20 guidance saw few surprises on the top line, even though margins were forecasted closer to the lower end of its long-term range. Vafi believes that Perspecta can generate further operational efficiencies in 2019 but also warns about the renewal risk given the company's "large NGEN-R adjudication" expected later this year, keeping his Hold rating on the shares.
06/10/19
COWN
06/10/19
DOWNGRADE
Target $26
COWN
Market Perform
Perspecta downgraded to Market Perform from Outperform at Cowen
Cowen analyst Gautam Khanna downgraded Perspecta to Market Perform from Outperform and lowered his price target for the shares to $26 from $28 after assuming primary coverage of the name. While the company's "underlying momentum is strong,"the stock's risk/reward into the binary NGEN-R re-compete award is "uncompelling," Khanna tells investors in a researchh note. Further, Perspecta has fewer "levers" to drive earnings growth while its margins are unlikely to expand much from the current levels and its balance sheet is levered, adds the analyst.

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