Goldman Sachs Starts CACI International (CACI) at Buy
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Goldman Sachs analyst Gavin Parsons initiates coverage on CACI International (NYSE: CACI) with a Buy rating and a price target of $260.00.
- Expects outperformance through consolidation.
- Favors management's proactive pivot to value-add products/work.
- Says strategic M&A approach makes Co. a through-cycle outperformer.
- Says market is mis-modeling M&A optionality.
- "We see upside to margins over next few years from LGS and Mastodon, which are also accretive to CACI’s growth rate. These two transactions result in an immediate step-up to margins as well as greater operating leverage going forward, which the market does not appear to be modeling."
Shares of CACI International closed at $200.07 yesterday.
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