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Fly News Breaks for February 7, 2020
UIS, SAIC
Feb 7, 2020 | 08:39 EDT
SunTrust analyst Tobey Sommer raised his price target on SAIC (SAIC) to $110 and kept his Buy rating after the company's announced $1.2B acquisition of Unisys Federal unit of Unisys (UIS). The analyst is positive on the company's IT service portfolio expansion given its cross-selling synergies and expected accretion toward the company's long-term target of 3% organic growth.
News For SAIC;UIS From the Last 2 Days
UIS
Aug 4, 2021 | 07:57 EDT
Canaccord analyst Joseph Vafi upgraded Unisys to Buy from Hold with a price target of $30, up from $25. The company's Q2 results are reflective of a "heightened cadence of building business momentum," Vafi tells investors in a research note. The analyst, who has been following Unisys for nearly two decades with a Hold rating, says "all turnaround boxes are now checked." Unisys's pension overhang is removed, business units are realigned and it is seeing a resumption of organic growth with improving margins, says Vafi. He believes the company's core service offerings are becoming more differentiated in the market and that the enterprise digital transformation "wave is a growing tailwind to growth."