Wells Fargo Upgrades Science Applications (SAIC) to Market Perform

Wells Fargo upgraded Science Applications (NYSE: SAIC) from Underperform to Market Perform with a price target of $33-$35 (from $24-$26).

Analyst Ed Caso said, "While we remain concerned about sustained government sector headwinds impacting revenue growth and pressuring pricing given intensified competition, the expectation of consistent (and presumably moderately growing) investor returns should provide some downside share support. We therefore are raising our investment rating to Market Perform from Underperform."

For an analyst ratings summary and ratings history on Science Applications click here. For more ratings news on Science Applications click here.

Shares of Science Applications closed at $35.96 yesterday.

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