Wells Fargo Maintains a 'Market Perform' on SAIC, Inc. (SAI); Hey, It's Time To Split

August 31, 2012 7:43 AM EDT
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Price: $16.03 --0%

Rating Summary:
    1 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wells Fargo maintains a 'Market Perform' on SAIC, Inc. (NYSE: SAI) price target range of $13-$14 (from $11-$12)

Analyst, Edward S. Caso, said, "SAI's Q2 results were better than expected, but overshadowed by the proposal to split into two businesses. Specifics of the proposed transaction are currently limited and completion not expected until the first half of 2014."

"SAIC is the leading pure-play IT services provider supporting the U.S. federal government. Intermediate-term we expect sustained sluggish pace of federal government award activity given enormous federal government budget pressure. We expect the shares to react positively in the near-term to the proposed separation into two companies and a sizable dividend provides further share support."

For an analyst ratings summary and ratings history on SAIC, Inc. click here. For more ratings news on SAIC, Inc. click here.

Shares of SAIC, Inc. closed at $11.81 yesterday.

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