SAIC price target raised to $110 from $99 at Stifel

Stifel analyst Bert Subin raised the firm’s price target on SAIC to $110 from $99 and keeps a Hold rating on the shares. The analyst notes SAIC reported Q3 adjusted EPS of $1.90 versus his $1.84 estimate and $1.73 consensus, and updated full-year guidance of $7.00-$7.20 to $7.05-$7.20. While Subin believes SAIC is moving in the right direction, he remains on the sidelines given the company’s slower growth profile versus valuation.