CACI price target raised to $387 from $360 at Wells Fargo

Wells Fargo raised the firm’s price target on CACI to $387 from $360 and keeps an Overweight rating on the shares. The firm still believes second half of the year margin fears are overblown and sees the Q2 guidance raise as a further sign of confidence. Improving M&A is potentially a big positive, and CACI has balance sheet available with leverage near historic lows, Wells adds.