Jefferies Upgrades CACI International (CACI) to Hold

Jefferies upgraded CACI International (NYSE: CACI) from Underperform to Hold with a price target of $54 (down from $56).

The firm states, "We are upgrading our rating on CACI to Hold from Underperform for 3 reasons: 1) stock has underperformed major indices by 732 bps since its early July peak; 2) CACI is in the midst of its seasonally strong Sept. quarter; 3) CACI's upsized buyback. Near-term ests seem safe, but we remain concerned that recent trends in book-to-bill and funded backlog will make upside more difficult to achieve, and the gov't IT end market remains fluid."

For more ratings news on CACI International click here and for the rating history of CACI International click here.

Shares of CACI International closed at $52.16 yesterday.

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