Jefferies Cuts Estimates and Price Target on SAIC (NYSE: SAI), Maintains Buy Rating

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Jefferies Buy rating on SAIC, Inc. (NYSE: SAI) remains as the firm lowers their price target to $19 from $23. The firm is also lowering their EPS/revenue estimates for FY11 and FY12 to $1.46/$11.1B and $1.44/$11.5B from $1.48/$11.4B and $1.57/$12B.

The firm reports that they feel that the company's weak stock price should indicated to the company for a $1B share buy back. They believe that this will still leave the company in a great position financially considering their current debt is only one turn of EBITDA.

For more ratings news on SAIC, Inc. click here and for the rating history of SAIC, Inc. click here.

Shares of SAIC, Inc. closed at $16.21 yesterday, with a 52 week range of $14.87-$19.76.

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