SAIC price target raised to $112 from $110 at Stifel

Stifel raised the firm’s price target on SAIC to $112 from $110 and keeps a Hold rating on the shares. The company’s investor day affirmed FY24 guidance and unveiled targets for FY25-26 that were similar to consensus expectations, the analyst tells investors in a research note. The firm adds that SAIC’s s multi-year targets are an encouraging starting point with upside potential as cloud growth ramps, noting that the takeaway from the even was ‘positive’ and made Stifel believe that the company’s consistent messaging should be viewed favorably in the context of evaluating out-year performance in a defense budget environment that is "clearly in flux".