RBC Capital Raises Price Target on CACI International (CACI) Following 1Q Beat

RBC Capital reiterated a Sector Perform rating on CACI International (NYSE: CACI), and raised the price target to $102.00 (from $91.00), following the company's 1Q16 earnings results. EPS of $1.37 beat consensus of $1.05. Sales came in at $822m, a 1% y/y increase.

Analyst Steven Cahall commented, "CACI F1Q EPS of $1.37 beat our $1.08 and consensus $1.05 by 27% and 30%, respectively, with the profit beat coming largely on increased net income due to the timing of award fees, product sales coming in early, and a few programs with better than expected performance. Sales came in at $822m, a 1% y/y increase. CACI reiterated its FY16 guidance of $3.3–3.5bn (+0%-6% y/y) in sales and $5.24–5.65 in EPS (+1–9%)."

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 $96.00 yesterday.

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