SAIC price target raised by $14 at Stifel, here’s why

Stifel analyst Bert Subin raised the firm’s price target on SAIC to $129 from $115 and keeps a Hold rating on the shares. The company posted $2.27 in adjusted EPS, which is “barely comparable” to the firm’s estimate and consensus for $1.69 partly on below-the-line items. The 58c beat resulted in a 50c adjusted EPS raise for the year, “indicating the outperformance is not anticipated to continue,” says the analyst, who contends that new awards remain the key to sustaining growth. When thinking about FY25, which begins in February, the firm adds that the “bar is getting quite a bit higher with bookings key to watch.”