UPDATE: Credit Suisse Upgrades CACI International (CACI) to Outperform

(Updated - August 20, 2019 6:27 AM EDT)

(updated to add analyst comment)

Credit Suisse analyst Robert Spingarn upgraded CACI International (NYSE: CACI) from Neutral to Outperform with a price target of $269.00 (from $223.00).

The analyst comments "While we have been cautious on CACI relative to peers owing to its lagging organic growth profile, we believe this thesis no longer holds. Specifically, CACI’s organic revenue trajectory looks poised to sustainably accelerate into the MSD+ range post FQ1’20, a view supported not only by CACI’s 2.06x TTM book:bill (comfortably above the peer average of 1.39x), but also by CACI’s functional transformation to a company more closely aligned with high-priority customer mission areas (e.g. SIGINT, EW, C4). This transformation allows CACI to take advantage of faster-growing budget lanes while also seizing market share (currently ~2% of TAM) where it had not been able to previously."

For an analyst ratings summary and ratings history on CACI International click here. For more ratings news on CACI International click here.

Shares of CACI International closed at $209.40 yesterday.

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