UPDATE: Baird Starts CACI International (CACI) at Outperform

Baird analyst Peter Arment initiates coverage on CACI International (NYSE: CACI) with a Outperform rating and a price target of $335.00.

The analyst comments "We are initiating coverage of CACI with an Outperform rating and $335 price target as the company stands to benefit from the DoD's multi-year IT modernization push coupled with recent technology deals, creating upside for growth and margins. Strong backlog, solid top-line growth and healthy FCF are the cornerstone of our bullish thesis on CACI. The ongoing transition via M&A from “People” (think billable hours) to “Technology” improves the long-term growth opportunity. With robust earnings and FCF, CACI should be core long-term holding especially in current market volatility."

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 $284.70 yesterday.

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