SAIC Awarded $126M 5-Year Task Order to Support U.S. Army
Science Applications International Corp. (SAIC) has received a $126 million task order from the Department of Defense Information Analysis Center to support the U.S. army by providing research and development for modeling and simulation enhancements.
President of the Defense and Civilian Sector at SAIC, Bob Genter, said, “The army’s ground dominance within the multi-domain operations construct is critical, and our team’s unique competencies and domain expertise in areas like digital engineering and modeling and simulation will help them sustain that for years to come.” (See SAIC stock analysis on TipRanks)
Goldman Sachs analyst Gavin Parsons recently downgraded the stock to Sell with a price target of $89 (5.1% downside potential). Parsons believes SAIC’s risk versus reward is leaning more towards the downside.
However, Parsons also sees upside to the 1% – 3% revenue growth guidance provided by the company.
Based on 5 Buys, 2 Holds, and 1 Sell, consensus among analysts is a Moderate Buy. The SAIC average analyst price target of $98.25 implies 4.8% upside potential.
Shares have gained about 11.3% over the past year.
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