Fly News Breaks for May 16, 2019
May 16, 2019 | 06:23 EDT
Wells Fargo analyst Edward Caso upgraded SAIC to Outperform from Market Perform and raised his price target for the shares to $87 from $80. The analyst has "growing comfort" with the company's ongoing integration of its Engility acquisition and sees the deal producing a "notable improvement" in free cash flow. Further, government services market dynamics remain favorable and SAIC's valuation is "overly discounted" relative to peers, Caso tells investors in a research note.
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