Wells Fargo Upgrades NCI, Inc. (NCIT) to Market Perform; Outlook Remains Sensitive to PEO Soldier Re-compete
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Price: $20.00 --0%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo upgraded NCI, Inc. (NASDAQ: NCIT) from Underperform to Market Perform with a price target range $5-6.
Analyst, Edward S. Caso, said, "Our below consensus revenue and EPS estimates remain unchanged. CY12E EPS is $0.23 and CY13E EPS is $0.18. One key issue to monitor is the upcoming re-compete of NCIT’s PEO Soldier contract, which is expected in the June time frame. The successful re-compete of this contract is assumed in CY12 revenue guidance of $345-375 million and represents approximately 20% of the total revenue expectation. We note that NCIT recently received an extension of its existing “bridge” for this contract, which now runs through September 23, 2012. Loss of this contract would likely put more pressure on the shares. Our government services sector rating remains Underweight as uncertainty around government agency client funding over the next several years remains high during this election year and going into the January 1, 2013 "sequestration" deadline."
For an analyst ratings summary and ratings history on NCI, Inc. click here. For more ratings news on NCI, Inc. click here.
Shares of NCI, Inc. closed at $4.75 yesterday.
Analyst, Edward S. Caso, said, "Our below consensus revenue and EPS estimates remain unchanged. CY12E EPS is $0.23 and CY13E EPS is $0.18. One key issue to monitor is the upcoming re-compete of NCIT’s PEO Soldier contract, which is expected in the June time frame. The successful re-compete of this contract is assumed in CY12 revenue guidance of $345-375 million and represents approximately 20% of the total revenue expectation. We note that NCIT recently received an extension of its existing “bridge” for this contract, which now runs through September 23, 2012. Loss of this contract would likely put more pressure on the shares. Our government services sector rating remains Underweight as uncertainty around government agency client funding over the next several years remains high during this election year and going into the January 1, 2013 "sequestration" deadline."
For an analyst ratings summary and ratings history on NCI, Inc. click here. For more ratings news on NCI, Inc. click here.
Shares of NCI, Inc. closed at $4.75 yesterday.
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