SAIC downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Matthew Sharpe downgraded SAIC to Equal Weight from Overweight with a price target of $114, up from $108. The stock re-rated late in 2022, having traded at a 10% discount to peers for most of the year, but that spread has now closed, Sharpe tells investors in a research note. With the catalyst of SAIC’s multi-year view of cash generation and growth now off the table, the analyst sees little over the course of 2023 to push the stock higher.