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Fly News Breaks for May 9, 2019
May 9, 2019 | 05:36 EDT
Goldman Sachs analyst Gavin Parsons started SAIC with a Neutral rating and $77 price target. The analyst expects the Engility acquisition to drive "meaningful growth" in margins and free cash flow but feels consensus estimates already reflect the margin expansion. 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.
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