Broadpoint.AmTech Upgrades ManTech International (MANT) to Buy
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Broadpoint.AmTech upgrades ManTech International (Nasdaq: MANT) from Neutral to Buy. Price target to $54.
Broadpoint analyst says, "We are upgrading MANT to Buy and raising our price target as 2H09 verticals are set to drive growth, and as the naming of Lawrence Prior as President and COO does much to alleviate our chief bear concern. While the logistics business and potential for federal in-sourcing still present near-term issues, we believe the issues are now well understood, especially in the context of cyber funding ramping MANT's core competencies going into 2H09 and FY10."
"While 2Q09 appears soft, we encourage investors to build positions in MANT before cyber contracts begin to flow in 2H09/early 2010. MANT's size and broad exposure to the 5-year, ~$17 billion NCSI cyber funding positions it as one of the best pure plays. We believe that as a result of weaker revenue from low margin logistics and a transitioning management team, MANT's growing high margin (+10.0%) cyber and intelligence assets are not properly valued."
To see more analyst ratings on MANT Click Here.
ManTech International Corporation is a provider of technologies and solutions for mission-critical national security programs for the Intelligence Community; the Departments of Defense, state, homeland security and justice; the Space Community and other United States federal government customers.
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