Fly News Breaks for January 9, 2020
Jan 9, 2020 | 08:28 EDT
Wells Fargo analyst Ed Caso raised his price target for SAIC to $100 from $92, while reiterating an Overweight rating on the shares. The analyst notes that major acquisition of Engility in January 2019 and one large delayed award led SAIC to have the weakest share price performance in 2019. However, acquisition is now digested, revenue comps are much easier, business is solid, free cash flow is strong and improving, while valuation notably lags peers, he contends.
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